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

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.20.

NRDS has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. KeyCorp raised their target price on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday. Truist Financial lowered their price target on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays boosted their price objective on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th.

NerdWallet Stock Up 2.6%

Shares of NASDAQ NRDS opened at $11.13 on Monday. The stock has a market capitalization of $809.34 million, a PE ratio of 17.39 and a beta of 1.44. The firm has a fifty day moving average of $12.07 and a 200-day moving average of $12.10. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts expect that NerdWallet will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other NerdWallet news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 358,116 shares in the company, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 45.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of NerdWallet by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NerdWallet by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company’s stock worth $15,842,000 after buying an additional 55,003 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in NerdWallet by 26.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after buying an additional 234,691 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of NerdWallet by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock valued at $10,926,000 after acquiring an additional 29,829 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NerdWallet by 9.7% during the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock worth $10,154,000 after acquiring an additional 81,986 shares during the last quarter. 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.