NerdWallet, Inc. (NASDAQ:NRDS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of brokerages have issued reports on NRDS. Morgan Stanley increased their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. KeyCorp upped their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays boosted their price target on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Truist Financial decreased their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Oppenheimer cut their target price on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st.

Insider Transactions at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the transaction, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Topline Capital Management, Ll bought 49,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were acquired at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the completion of the transaction, the insider now directly owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of NerdWallet during the second quarter valued at approximately $31,000. nVerses Capital LLC acquired a new position in shares of NerdWallet in the 3rd quarter valued at about $62,000. US Bancorp DE purchased a new stake in NerdWallet during the third quarter worth $86,000. Intech Investment Management LLC acquired a new stake in NerdWallet in the third quarter valued at approximately $135,000. Finally, Algert Global LLC purchased a new stake in shares of NerdWallet during the second quarter worth about $196,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Up 2.2 %

NRDS opened at $15.32 on Friday. The stock’s 50 day moving average price is $12.95 and its two-hundred day moving average price is $13.36. The firm has a market capitalization of $1.13 billion, a P/E ratio of -109.42 and a beta of 1.39. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The firm had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. During the same period in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. As a group, analysts anticipate that NerdWallet will post -0.11 earnings per share for the current year.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.