NerdWallet (NASDAQ:NRDS) Announces Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) announced its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, Briefing.com reports. The company had revenue of $161.90 million for the quarter, compared to the consensus estimate of $156.95 million. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 earnings per share. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Price Performance

NRDS stock traded down $0.38 on Friday, reaching $13.14. The company’s stock had a trading volume of 604,376 shares, compared to its average volume of 338,636. NerdWallet has a 52 week low of $6.38 and a 52 week high of $17.30. The firm has a fifty day moving average of $15.09 and a two-hundred day moving average of $13.49. The company has a market capitalization of $1.01 billion, a P/E ratio of -81.74 and a beta of 1.39.

Insider Transactions at NerdWallet

In related news, VP Samuel Yount sold 6,309 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $16.16, for a total value of $101,953.44. Following the completion of the transaction, the vice president now owns 2,350,242 shares in the company, valued at approximately $37,979,910.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 45.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NRDS shares. Barclays lifted their price objective on NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Citigroup upped their price objective on shares of NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. KeyCorp lifted their target price on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Truist Financial reduced their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.50.

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.