NerdWallet, Inc. (NASDAQ:NRDS) Given Consensus Recommendation of “Hold” by Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has received an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.20.

Several research firms have recently commented on NRDS. KeyCorp increased their price target on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their target price on NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research downgraded NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday. Barclays upped their price objective on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Truist Financial dropped 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.

Insider Buying and Selling at NerdWallet

In related news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the transaction, the insider owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 45.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Covestor Ltd purchased a new stake in shares of NerdWallet in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC grew its holdings in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after buying an additional 1,054 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of NerdWallet during the 3rd quarter valued at about $111,000. Olympiad Research LP purchased a new position in shares of NerdWallet during the 3rd quarter worth about $119,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of NerdWallet in the third quarter worth approximately $119,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Price Performance

NRDS opened at $11.13 on Monday. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.24. The stock has a market cap of $809.34 million, a P/E ratio of 17.39 and a beta of 1.44. The stock’s 50 day simple moving average is $12.07 and its 200 day simple moving average is $12.10.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $211.37 million. During the same period in the previous year, the business earned $0.51 earnings per share. NerdWallet’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts expect that NerdWallet will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its Board of Directors has approved a share repurchase program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.