NerdWallet, Inc. (NASDAQ:NRDS) Given Consensus Rating of “Hold” by Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.3333.

Several analysts have commented on NRDS shares. Oppenheimer lowered their price objective on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Truist Financial decreased their price target on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Finally, Zacks Research downgraded NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th.

NerdWallet Trading Down 3.1%

Shares of NRDS traded down $0.33 on Friday, reaching $10.20. 78,467 shares of the company’s stock traded hands, compared to its average volume of 1,015,437. The stock’s 50 day simple moving average is $10.90 and its two-hundred day simple moving average is $12.12. The stock has a market cap of $681.26 million, a PE ratio of 15.85 and a beta of 1.44. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts forecast that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at NerdWallet

In related news, CAO Nicholas Tatum sold 10,151 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the sale, the chief accounting officer directly owned 47,202 shares in the company, valued at approximately $540,462.90. This represents a 17.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the transaction, the insider directly owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,043 shares of company stock worth $901,317 over the last 90 days. 46.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDS. Covestor Ltd bought a new position in NerdWallet in the 4th quarter worth about $34,000. Tower Research Capital LLC TRC boosted its position in shares of NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after acquiring an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of NerdWallet during the 3rd quarter valued at about $111,000. Moran Wealth Management LLC purchased a new position in shares of NerdWallet during the fourth quarter worth about $148,000. Finally, Swiss Life Asset Management Ltd bought a new position in shares of NerdWallet in the fourth quarter worth approximately $150,000. Institutional investors own 38.81% of the company’s stock.

About NerdWallet

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.