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

NerdWallet, Inc. (NASDAQ:NRDS) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.00.

NRDS has been the subject of several analyst reports. Oppenheimer cut their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Barclays decreased their target price on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Truist Financial dropped their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th.

NerdWallet Stock Up 2.3 %

Shares of NASDAQ NRDS opened at $12.19 on Monday. The stock’s 50-day simple moving average is $13.68 and its two-hundred day simple moving average is $14.26. NerdWallet has a twelve month low of $6.38 and a twelve month high of $17.30. The firm has a market capitalization of $947.63 million, a P/E ratio of -71.71 and a beta of 1.46.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. As a group, research analysts anticipate that NerdWallet will post 0.22 EPS for the current fiscal year.

Insider Activity at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRDS. Lord Abbett & CO. LLC increased its holdings in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after purchasing an additional 481,958 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after acquiring an additional 432,262 shares during the period. Azora Capital LP boosted its holdings in NerdWallet by 23.7% in the fourth quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock worth $15,516,000 after purchasing an additional 202,149 shares during the last quarter. G2 Investment Partners Management LLC bought a new stake in NerdWallet in the 4th quarter worth approximately $2,463,000. Finally, Dimensional Fund Advisors LP raised its stake in NerdWallet by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after buying an additional 86,376 shares during the last quarter. 38.81% of the stock is owned by institutional investors.

About NerdWallet

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.