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

NerdWallet, Inc. (NASDAQ:NRDS) has received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $12.8333.

NRDS has been the subject of several recent analyst reports. Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Weiss Ratings lowered shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Citigroup lowered their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

Institutional Trading of NerdWallet

A number of hedge funds and other institutional investors have recently modified their holdings of NRDS. OP Asset Management Ltd acquired a new stake in shares of NerdWallet in the first quarter valued at approximately $6,957,000. Millennium Management LLC boosted its stake in NerdWallet by 1,231.3% in the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after acquiring an additional 497,978 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after acquiring an additional 444,038 shares during the last quarter. Principal Financial Group Inc. bought a new position in NerdWallet in the first quarter valued at approximately $2,903,000. Finally, Tudor Investment Corp ET AL bought a new position in NerdWallet in the third quarter valued at approximately $2,812,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Trading Up 1.4%

NASDAQ NRDS opened at $8.50 on Wednesday. The firm has a market cap of $559.30 million, a price-to-earnings ratio of 9.14 and a beta of 1.25. The company has a 50 day moving average of $9.35 and a 200-day moving average of $11.18. NerdWallet has a 1-year low of $7.33 and a 1-year high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The business’s revenue 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 year.

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.