Citigroup Lowers NerdWallet (NASDAQ:NRDS) Price Target to $11.00

NerdWallet (NASDAQ:NRDS) had its price target dropped by Citigroup from $13.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 24.14% from the company’s previous close.

A number of other analysts have also weighed in on NRDS. Wall Street Zen lowered NerdWallet from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Oppenheimer lowered their target price on NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of NerdWallet in a report on Monday, May 4th. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Finally, KeyCorp decreased their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NerdWallet has a consensus rating of “Hold” and an average target price of $13.83.

NerdWallet Price Performance

Shares of NASDAQ:NRDS traded down $0.28 during midday trading on Monday, reaching $8.86. The company’s stock had a trading volume of 293,017 shares, compared to its average volume of 889,944. NerdWallet has a fifty-two week low of $8.42 and a fifty-two week high of $16.24. The company has a market capitalization of $591.83 million, a P/E ratio of 9.56 and a beta of 1.34. The business’s fifty day simple moving average is $10.61 and its 200-day simple moving average is $12.09.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that NerdWallet will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at NerdWallet

In other news, insider Samuel Yount sold 71,988 shares of NerdWallet stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the transaction, the insider owned 173,973 shares in the company, valued at $1,795,401.36. The trade was a 29.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the transaction, the chief accounting officer owned 47,202 shares in the company, valued at $540,462.90. This trade represents a 17.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 86,043 shares of company stock worth $901,317. Company insiders own 52.75% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new position in shares of NerdWallet during the 3rd quarter valued at about $2,812,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of NerdWallet by 44.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 178,894 shares of the company’s stock valued at $1,925,000 after purchasing an additional 54,626 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NerdWallet by 400.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock valued at $1,055,000 after purchasing an additional 78,447 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of NerdWallet during the 2nd quarter valued at about $129,000. Finally, Prelude Capital Management LLC bought a new position in shares of NerdWallet during the 3rd quarter valued at about $119,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.