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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.3333.

A number of brokerages have commented on NRDS. Truist Financial reduced their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Morgan Stanley cut NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Oppenheimer decreased their price target on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th.

NerdWallet Trading Up 0.5%

Shares of NASDAQ NRDS opened at $10.40 on Friday. The firm has a market capitalization of $694.62 million, a P/E ratio of 16.25 and a beta of 1.42. The firm’s 50-day moving average price is $10.63 and its 200-day moving average price is $12.10. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.24.

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

NerdWallet declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the sale, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at $540,462.90. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samuel Yount sold 71,988 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the sale, the insider owned 173,973 shares in the company, valued at $1,795,401.36. This represents a 29.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 86,043 shares of company stock valued at $901,317. 46.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NRDS. Invesco Ltd. boosted its position in shares of NerdWallet by 27.7% during the fourth quarter. Invesco Ltd. now owns 103,226 shares of the company’s stock valued at $1,399,000 after buying an additional 22,406 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in NerdWallet in the 4th quarter valued at $310,000. XTX Topco Ltd lifted its stake in NerdWallet by 141.3% during the 4th quarter. XTX Topco Ltd now owns 74,784 shares of the company’s stock valued at $1,013,000 after acquiring an additional 43,794 shares in the last quarter. Numerai GP LLC purchased a new position in NerdWallet during the 4th quarter worth $423,000. Finally, Millennium Management LLC boosted its holdings in NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after acquiring an additional 497,978 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

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.