Brokerages Set NerdWallet, Inc. (NASDAQ:NRDS) Target Price at $16.00

by · The Markets Daily

NerdWallet, Inc. (NASDAQ:NRDS – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.00.

A number of research firms have recently weighed in on NRDS. Truist Financial dropped their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Barclays dropped their target price on NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Oppenheimer reduced their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st.

Get Our Latest Stock Report on NRDS

NerdWallet Trading Down 2.4 %

Shares of NASDAQ NRDS opened at $12.58 on Friday. NerdWallet has a one year low of $6.38 and a one year high of $17.30. The business has a 50-day moving average price of $12.81 and a two-hundred day moving average price of $13.68. The firm has a market capitalization of $977.94 million, a PE ratio of -74.00 and a beta of 1.43.

NerdWallet (NASDAQ:NRDS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Research analysts anticipate that NerdWallet will post -0.01 EPS for the current year.

Insider Buying and Selling

In other news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the transaction, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 45.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in NerdWallet during the second quarter valued at about $31,000. Olympiad Research LP acquired a new stake in NerdWallet in the 4th quarter valued at approximately $173,000. Algert Global LLC bought a new position in NerdWallet in the 2nd quarter worth approximately $196,000. The Manufacturers Life Insurance Company grew its stake in shares of NerdWallet by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in NerdWallet by 11.1% during the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after acquiring an additional 1,561 shares during the period. 38.81% of the stock is currently owned by institutional investors and hedge funds.

About NerdWallet

(Get Free Report

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.

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