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

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $12.8333.

A number of brokerages recently weighed in on NRDS. Truist Financial lowered their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer lowered their target price on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday. Morgan Stanley downgraded NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $14.00 to $9.00 in a research report on Friday, March 13th. Finally, KeyCorp cut their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th.

NerdWallet Stock Up 2.5%

Shares of NASDAQ:NRDS opened at $7.77 on Friday. The firm has a market cap of $511.26 million, a P/E ratio of 8.35 and a beta of 1.34. NerdWallet has a 12 month low of $7.33 and a 12 month high of $16.24. The company’s 50-day moving average price is $10.27 and its two-hundred day moving average price is $11.95.

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

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the firm’s 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 of the company’s stock, valued at approximately $540,462.90. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were 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 in the company, valued at $1,795,401.36. This trade represents a 29.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,043 shares of company stock valued at $901,317 over the last three months. Company insiders own 52.75% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in NerdWallet by 80.6% during the first quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock worth $366,000 after buying an additional 18,047 shares during the last quarter. Millennium Management LLC lifted its holdings in NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after acquiring an additional 166,984 shares in the last quarter. Creative Planning acquired a new position in NerdWallet in the second quarter valued at about $177,000. JPMorgan Chase & Co. increased its holdings in shares of NerdWallet by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock worth $215,000 after acquiring an additional 2,161 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of NerdWallet by 7.7% in the second quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock worth $504,000 after acquiring an additional 3,300 shares in the last quarter. 38.81% of the stock is owned by institutional investors.

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.