NerdWallet (NASDAQ:NRDS) Stock Jumps 11.2% – Here’s What Happened

NerdWallet, Inc. (NASDAQ:NRDS)’s share price traded up 11.2% during trading on Wednesday. The company traded as high as $12.11 and last traded at $12.0530. Approximately 151,270 shares traded hands during trading, a decline of 82% from the average daily volume of 838,175 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.83.

NerdWallet Stock Performance

The firm has a market cap of $752.34 million, a P/E ratio of 13.27 and a beta of 1.20. The company’s 50 day moving average is $9.67 and its 200 day moving average is $9.84.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $197.30 million for the quarter, compared to the consensus estimate of $195.30 million. NerdWallet had a return on equity of 18.07% and a net margin of 7.56%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that NerdWallet, Inc. will post 0.88 EPS for the current year.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently bought and sold shares of NRDS. New York State Teachers Retirement System bought a new position in NerdWallet in the 1st quarter valued at approximately $41,000. Nisa Investment Advisors LLC boosted its position in NerdWallet by 442.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,597 shares of the company’s stock worth $75,000 after buying an additional 7,011 shares during the period. State of Wyoming grew its holdings in NerdWallet by 10.3% during the 3rd quarter. State of Wyoming now owns 29,785 shares of the company’s stock worth $262,000 after acquiring an additional 2,778 shares during the last quarter. Squarepoint Ops LLC bought a new stake in NerdWallet during the 2nd quarter worth approximately $508,000. Finally, Alps Advisors Inc. bought a new stake in NerdWallet during the 3rd quarter worth approximately $536,000. Institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products.

The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States.