Oppenheimer Cuts NerdWallet (NASDAQ:NRDS) Price Target to $15.00

NerdWallet (NASDAQ:NRDS) had its price objective trimmed by Oppenheimer from $18.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. Barclays upped their price target on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Truist Financial decreased their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. KeyCorp upped their target price on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Morgan Stanley increased their price target 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. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.17.

NerdWallet Stock Performance

NerdWallet stock opened at $11.16 on Wednesday. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.24. The firm has a market capitalization of $745.38 million, a price-to-earnings ratio of 17.44 and a beta of 1.44. The company has a 50 day moving average price of $11.78 and a 200 day moving average price of $12.11.

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

NerdWallet announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at NerdWallet

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $11.45, for a total value of $116,228.95. Following the transaction, the chief accounting officer owned 47,202 shares in the company, valued at $540,462.90. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 46.54% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of NerdWallet by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after buying an additional 48,205 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NerdWallet by 4.9% in the fourth 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its position in NerdWallet by 26.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after acquiring an additional 234,691 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 lifted its stake in NerdWallet by 9.7% in the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after acquiring an additional 81,986 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.