NerdWallet (NASDAQ:NRDS) Announces Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) issued its quarterly earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, Briefing.com reports. The company had revenue of $161.90 million during the quarter, compared to the consensus estimate of $156.95 million. NerdWallet had a negative return on equity of 3.39% and a negative net margin of 2.10%. NerdWallet’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Trading Down 4.7 %

Shares of NASDAQ NRDS opened at $12.89 on Friday. NerdWallet has a 12-month low of $6.38 and a 12-month high of $17.30. The company has a market cap of $992.66 million, a P/E ratio of -75.82 and a beta of 1.39. The stock has a fifty day moving average price of $15.01 and a 200 day moving average price of $13.52.

Insider Activity at NerdWallet

In related news, VP Samuel Yount sold 6,309 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the completion of the sale, the vice president now directly owns 2,350,242 shares in the company, valued at approximately $37,979,910.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 45.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NRDS. Truist Financial cut their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Barclays upped their price objective on NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Citigroup upped their price objective on NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NerdWallet presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.