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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.40.

NRDS has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Barclays increased their price objective on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. KeyCorp raised their target price on NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Zacks Research upgraded NerdWallet from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th.

NerdWallet Stock Down 1.5%

Shares of NASDAQ:NRDS opened at $14.05 on Wednesday. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24. The stock has a market cap of $1.02 billion, a P/E ratio of 14.64 and a beta of 1.42. The business has a fifty day moving average of $13.53 and a two-hundred day moving average of $11.69.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14. NerdWallet had a net margin of 9.22% and a return on equity of 9.27%. The firm had revenue of $215.10 million for the quarter, compared to analysts’ expectations of $193.31 million. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts anticipate that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet declared that its board has authorized a share buyback program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total value of $255,757.80. Following the sale, the insider owned 358,116 shares in the company, valued at approximately $5,744,180.64. The trade was a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nicholas Tatum sold 4,272 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $10.76, for a total value of $45,966.72. Following the transaction, the chief accounting officer directly owned 68,020 shares in the company, valued at approximately $731,895.20. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,503 shares of company stock worth $715,244. 45.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in NerdWallet during the 3rd quarter worth approximately $111,000. EntryPoint Capital LLC purchased a new position in NerdWallet in the 1st quarter valued at approximately $114,000. Olympiad Research LP acquired a new position in shares of NerdWallet in the third quarter worth $119,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of NerdWallet during the third quarter worth $119,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.