NerdWallet (NASDAQ:NRDS) Price Target Cut to $15.00 by Analysts at Oppenheimer

NerdWallet (NASDAQ:NRDS) had its price objective decreased by Oppenheimer from $18.00 to $15.00 in a research report released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Barclays lifted their price target on shares of NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Truist Financial dropped their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Finally, KeyCorp boosted their price target on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.17.

NerdWallet Trading Down 2.7%

NerdWallet stock opened at $11.17 on Wednesday. The stock has a fifty day moving average price of $11.90 and a 200 day moving average price of $12.11. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.24. The firm has a market capitalization of $812.17 million, a P/E ratio of 17.45 and a beta of 1.44.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (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 firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $211.37 million. During the same period last year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts predict that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its Board of Directors has approved a share buyback plan on Tuesday, December 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of NerdWallet by 1,231.3% in the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after buying an additional 497,978 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in NerdWallet during the 3rd quarter worth approximately $2,812,000. Nuveen LLC boosted its holdings in NerdWallet by 296.1% in the 4th quarter. Nuveen LLC now owns 330,631 shares of the company’s stock worth $4,480,000 after acquiring an additional 247,157 shares during the period. Arrowstreet Capital Limited Partnership grew its position in NerdWallet by 26.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after acquiring an additional 234,691 shares in the last quarter. Finally, UBS Group AG grew its position in NerdWallet by 52.2% in the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after acquiring an additional 167,954 shares in the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.