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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $12.8333.

NRDS has been the topic of several research reports. Truist Financial cut their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Weiss Ratings cut NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. KeyCorp dropped their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Oppenheimer decreased their price objective on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, May 11th.

NerdWallet Stock Down 6.9%

Shares of NRDS traded down $0.66 during trading hours on Thursday, reaching $8.95. 46,062 shares of the company traded hands, compared to its average volume of 881,946. The company’s fifty day moving average price is $8.83 and its two-hundred day moving average price is $10.02. The company has a market capitalization of $588.78 million, a price-to-earnings ratio of 9.61 and a beta of 1.23. NerdWallet has a 12 month low of $7.33 and a 12 month high of $16.24.

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

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35. Following the completion of the transaction, the insider directly owned 4,331,992 shares in the company, valued at $38,771,328.40. This trade represents a 17.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 1,961,860 shares of company stock valued at $17,862,921. 52.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDS. Vanguard Group Inc. lifted its holdings in shares of NerdWallet by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after purchasing an additional 48,205 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after buying an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after buying an additional 153,790 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after acquiring an additional 202,838 shares in the last quarter. Finally, State Street Corp grew its stake in shares of NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock worth $12,495,000 after acquiring an additional 28,844 shares during the last quarter. 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.