NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.00 Average Price Target from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.00.

A number of brokerages recently weighed in on NRDS. KeyCorp reduced their target price on NerdWallet from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Citigroup reduced their target price on NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in NerdWallet in the fourth quarter valued at about $80,000. RHS Financial LLC purchased a new position in NerdWallet in the first quarter valued at about $100,000. EntryPoint Capital LLC purchased a new position in NerdWallet in the first quarter valued at about $114,000. US Bancorp DE raised its position in NerdWallet by 41.2% in the fourth quarter. US Bancorp DE now owns 9,592 shares of the company’s stock valued at $128,000 after purchasing an additional 2,800 shares during the period. Finally, Magnetar Financial LLC purchased a new position in NerdWallet in the first quarter valued at about $130,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Up 2.3%

NRDS stock opened at $11.11 on Wednesday. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.45. The stock’s fifty day simple moving average is $10.29 and its 200-day simple moving average is $11.29. The stock has a market capitalization of $827.84 million, a price-to-earnings ratio of 28.49 and a beta of 1.46.

About NerdWallet

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.