NerdWallet (NASDAQ:NRDS) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of NerdWallet (NASDAQ:NRDS) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Several other research firms have also issued reports on NRDS. Morgan Stanley upped their price target on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. KeyCorp increased 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. Barclays raised their price target on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Truist Financial lowered 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. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.20.

NerdWallet Stock Down 2.0%

Shares of NASDAQ NRDS traded down $0.22 during trading hours on Thursday, reaching $10.85. 1,919,819 shares of the stock traded hands, compared to its average volume of 1,173,497. The company’s 50-day simple moving average is $12.07 and its two-hundred day simple moving average is $12.08. The company has a market capitalization of $788.90 million, a P/E ratio of 16.95 and a beta of 1.43. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.55%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. As a group, sell-side analysts forecast that NerdWallet will post 0.36 earnings per share for the current fiscal year.

NerdWallet declared that its board has approved 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 reacquire up to 5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NerdWallet

In other news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total transaction of $255,757.80. Following the transaction, the insider directly owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 46.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of NerdWallet by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock worth $42,977,000 after purchasing an additional 48,205 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of NerdWallet by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company’s stock worth $15,842,000 after acquiring an additional 55,003 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of NerdWallet by 26.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after acquiring an additional 234,691 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NerdWallet by 3.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock valued at $10,926,000 after purchasing an additional 29,829 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of NerdWallet by 9.7% during the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after purchasing an additional 81,986 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

About NerdWallet

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.