NerdWallet (NASDAQ:NRDS) Shares Climb 11.2% – Should You Buy?

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price shot up 11.2% during trading on Wednesday. The company traded as high as $12.11 and last traded at $12.0530. 151,270 shares were traded during trading, a decline of 82% from the average session volume of 838,175 shares. The stock had previously closed at $10.84.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Stock Up 8.6%

The stock has a market capitalization of $752.34 million, a P/E ratio of 13.27 and a beta of 1.20. The firm’s 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $9.84.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, equities research analysts expect that NerdWallet, Inc. will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NRDS. State of Wyoming grew its position in shares of NerdWallet by 10.3% during the 3rd quarter. State of Wyoming now owns 29,785 shares of the company’s stock valued at $262,000 after acquiring an additional 2,778 shares during the period. First Trust Advisors LP increased its stake in shares of NerdWallet by 2.5% during the 1st quarter. First Trust Advisors LP now owns 112,917 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,801 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of NerdWallet in the 1st quarter worth approximately $41,000. Nisa Investment Advisors LLC raised its holdings in shares of NerdWallet by 442.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,597 shares of the company’s stock worth $75,000 after purchasing an additional 7,011 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in NerdWallet by 286.0% in the first quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock valued at $755,000 after purchasing an additional 53,915 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products.

The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States.