NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.00.

A number of equities research analysts have recently commented on the company. Barclays raised their target price on NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. KeyCorp increased their target price on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial reduced their price objective on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Oppenheimer dropped their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st.

NerdWallet Trading Down 1.3 %

Shares of NRDS stock opened at $15.61 on Friday. NerdWallet has a twelve month low of $10.10 and a twelve month high of $17.30. The stock has a 50 day moving average of $12.80 and a 200 day moving average of $13.33. The stock has a market cap of $1.15 billion, a P/E ratio of -111.49 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. On average, research analysts predict that NerdWallet will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at NerdWallet

In other NerdWallet news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the purchase, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Topline Capital Management, Ll bought 49,722 shares of the business’s stock in a transaction on Monday, October 21st. The stock was acquired at an average cost of $12.05 per share, with a total value of $599,150.10. Following the purchase, the insider now directly owns 4,839,090 shares of the company’s stock, valued at $58,311,034.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of NerdWallet stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

A number of institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its position in shares of NerdWallet by 108.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after buying an additional 481,958 shares during the period. Vanguard Group Inc. raised its position in NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after purchasing an additional 432,262 shares during the period. SG Americas Securities LLC acquired a new position in shares of NerdWallet in the 2nd quarter valued at $445,000. Bank of New York Mellon Corp grew its holdings in shares of NerdWallet by 27.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock worth $1,794,000 after purchasing an additional 26,572 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in shares of NerdWallet during the 2nd quarter worth about $555,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.