NerdWallet, Inc. (NASDAQ:NRDS) Stock Now Rated “Hold” by Wall Street Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.40.

A number of equities research analysts have issued reports on the stock. William Blair lowered shares of NerdWallet from an “outperform” rating to a “market perform” rating in a report on Friday. Truist Financial dropped their price target on shares of NerdWallet from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. Finally, Weiss Ratings raised NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in NerdWallet by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after purchasing an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after buying an additional 153,790 shares during the period. Renaissance Technologies LLC increased its stake in shares of NerdWallet by 25.4% during the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after buying an additional 202,838 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of NerdWallet during the first quarter worth approximately $2,903,000. Finally, Russell Investments Group Ltd. raised its holdings in NerdWallet by 97.0% in the third quarter. Russell Investments Group Ltd. now owns 176,576 shares of the company’s stock valued at $1,550,000 after acquiring an additional 86,927 shares in the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

Key NerdWallet News

Here are the key news stories impacting NerdWallet this week:

• Positive Sentiment: Truist maintained a Buy rating and sees potential upside from its current level, although it cut its price target to $12 from $15. Truist analyst information
• Negative Sentiment: Fourth-quarter revenue guidance of $191 million–$203 million came in well below the roughly $241 million analyst consensus, signaling a weaker near-term outlook. NerdWallet third-quarter results
• Negative Sentiment: Third-quarter adjusted earnings of $0.23 per share and revenue of $239.6 million missed consensus estimates of $0.34 and $251.9 million, respectively. Earnings also declined from $0.34 per share a year earlier. NerdWallet misses third-quarter estimates
• Negative Sentiment: Costs rose about 22%, nearly twice the 12% growth in consumer revenue, fueling concerns that expense growth is eroding the benefit of sales gains. Why NerdWallet stock came under pressure
• Negative Sentiment: William Blair downgraded NerdWallet from Outperform to Market Perform, adding to the cautious analyst commentary. William Blair downgrade

NerdWallet Stock Performance

Shares of NRDS traded down $3.54 during midday trading on Friday, hitting $7.89. 3,076,822 shares of the stock were exchanged, compared to its average volume of 744,444. NerdWallet has a 52-week low of $7.33 and a 52-week high of $16.24. The stock has a fifty day simple moving average of $9.70 and a 200 day simple moving average of $9.80. The firm has a market cap of $504.33 million, a P/E ratio of 10.12 and a beta of 1.20.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Thursday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.11). The firm had revenue of $239.60 million for the quarter, compared to analyst estimates of $251.86 million. NerdWallet had a return on equity of 18.07% and a net margin of 7.56%. NerdWallet’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, equities research analysts forecast that NerdWallet will post 0.88 EPS for the current fiscal year.

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products.

The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States.