NerdWallet (NASDAQ:NRDS) Raised to “Hold” at Zacks Research

NerdWallet (NASDAQ:NRDS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Truist Financial cut their price target on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. KeyCorp cut their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Oppenheimer cut their price target on NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Citigroup dropped their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NerdWallet currently has a consensus rating of “Hold” and a consensus price target of $12.83.

NerdWallet Price Performance

NerdWallet stock opened at $8.02 on Tuesday. NerdWallet has a 1-year low of $7.33 and a 1-year high of $16.24. The stock has a market cap of $527.72 million, a PE ratio of 8.62 and a beta of 1.25. The stock’s fifty day moving average is $9.72 and its two-hundred day moving average is $11.54.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $227.63 million. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that NerdWallet will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Samuel Yount sold 71,988 shares of the firm’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 transaction, the insider owned 173,973 shares of the company’s stock, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 52.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd purchased a new position in shares of NerdWallet during the fourth quarter worth about $34,000. New York State Teachers Retirement System purchased a new position in shares of NerdWallet during the first quarter worth about $41,000. Tower Research Capital LLC TRC grew its holdings in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after buying an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of NerdWallet during the third quarter worth about $111,000. Finally, Prelude Capital Management LLC purchased a new position in shares of NerdWallet during the third quarter worth about $119,000. Hedge funds and other 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.