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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of research firms recently issued reports on NRDS. Oppenheimer lowered their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Barclays lowered their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Truist Financial lowered their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th.

Insider Activity at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 45.93% of the stock is owned by insiders.

Institutional Investors Weigh In On NerdWallet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of NerdWallet during the 2nd quarter valued at approximately $31,000. Algert Global LLC acquired a new stake in shares of NerdWallet during the 2nd quarter valued at approximately $196,000. The Manufacturers Life Insurance Company increased its stake in shares of NerdWallet by 16.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after purchasing an additional 2,172 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of NerdWallet during the 2nd quarter worth approximately $245,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Stock Performance

Shares of NRDS stock opened at $11.97 on Tuesday. The stock’s 50-day moving average is $12.27 and its two-hundred day moving average is $13.42. The firm has a market cap of $930.52 million, a price-to-earnings ratio of -70.41 and a beta of 1.42. NerdWallet has a 1 year low of $6.38 and a 1 year high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The firm had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $149.93 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts predict that NerdWallet will post -0.01 EPS 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.