NerdWallet, Inc. (NASDAQ:NRDS) Receives $16.67 Average Price Target from Analysts

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.67.

A number of equities analysts have issued reports on NRDS shares. KeyCorp cut their price objective on shares of NerdWallet from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Morgan Stanley cut their price objective on shares of NerdWallet from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Truist Financial lifted their price objective on shares of NerdWallet from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Oppenheimer cut their price objective on shares of NerdWallet from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd.

Insider Transactions at NerdWallet

In other NerdWallet news, CEO Tim Chao-Ming Chen bought 23,938 shares of the stock in a transaction dated Monday, September 11th. The shares were bought at an average cost of $8.40 per share, for a total transaction of $201,079.20. Following the purchase, the chief executive officer now directly owns 688,523 shares of the company’s stock, valued at approximately $5,783,593.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in NerdWallet by 325.2% in the 2nd quarter. California State Teachers Retirement System now owns 41,091 shares of the company’s stock valued at $387,000 after acquiring an additional 31,427 shares during the period. Osaic Holdings Inc. raised its stake in NerdWallet by 242.9% in the 2nd quarter. Osaic Holdings Inc. now owns 176,668 shares of the company’s stock valued at $1,662,000 after acquiring an additional 125,150 shares during the period. Nuveen Asset Management LLC raised its stake in NerdWallet by 50.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 249,379 shares of the company’s stock valued at $2,347,000 after acquiring an additional 83,589 shares during the period. Alliancebernstein L.P. raised its stake in NerdWallet by 94.9% in the 2nd quarter. Alliancebernstein L.P. now owns 48,730 shares of the company’s stock valued at $459,000 after acquiring an additional 23,730 shares during the period. Finally, Wells Fargo & Company MN raised its stake in NerdWallet by 30.1% in the 2nd quarter. Wells Fargo & Company MN now owns 31,838 shares of the company’s stock valued at $300,000 after acquiring an additional 7,357 shares during the period. 36.22% of the stock is currently owned by institutional investors.

NerdWallet Trading Down 3.3 %

NASDAQ NRDS opened at $8.99 on Tuesday. The company has a fifty day simple moving average of $9.46 and a 200 day simple moving average of $11.56. NerdWallet has a 12-month low of $7.62 and a 12-month high of $21.74. The company has a market cap of $697.08 million, a P/E ratio of 899.90 and a beta of 1.51.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.11). NerdWallet had a net margin of 0.10% and a negative return on equity of 1.93%. The business had revenue of $143.30 million during the quarter, compared to analyst estimates of $137.22 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts predict that NerdWallet will post -0.1 EPS for the current year.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. The company's platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.