Oppenheimer Trims NerdWallet (NASDAQ:NRDS) Target Price to $18.00

NerdWallet (NASDAQ:NRDS) had its target price trimmed by Oppenheimer from $20.00 to $18.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

NerdWallet Stock Performance

NerdWallet stock opened at $11.28 on Thursday. The firm has a 50 day moving average price of $14.29 and a 200 day moving average price of $14.66. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The company has a market capitalization of $876.91 million, a PE ratio of -66.35 and a beta of 1.46.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The firm had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that NerdWallet will post 0.22 earnings per share for the current year.

Insider Transactions at NerdWallet

In other NerdWallet news, Director Jennifer Ceran sold 5,897 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $13.70, for a total value of $80,788.90. Following the completion of the transaction, the director now owns 36,099 shares in the company, valued at $494,556.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jennifer Ceran sold 5,897 shares of NerdWallet stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $13.70, for a total value of $80,788.90. Following the completion of the transaction, the director now owns 36,099 shares in the company, valued at approximately $494,556.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $14.66, for a total transaction of $73,300.00. Following the completion of the sale, the vice president now directly owns 2,341,971 shares in the company, valued at approximately $34,333,294.86. The disclosure for this sale can be found here. Corporate insiders own 45.93% of the company’s stock.

Institutional Trading of NerdWallet

A number of institutional investors have recently bought and sold shares of the business. Trexquant Investment LP grew its position in shares of NerdWallet by 2.7% in the 4th quarter. Trexquant Investment LP now owns 42,959 shares of the company’s stock valued at $632,000 after buying an additional 1,133 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NerdWallet by 32.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,407 shares of the company’s stock worth $227,000 after purchasing an additional 3,796 shares during the last quarter. Steamboat Capital Partners LLC grew its holdings in shares of NerdWallet by 1.7% during the first quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after purchasing an additional 4,030 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of NerdWallet during the fourth quarter worth about $110,000. Finally, Rhumbline Advisers lifted its holdings in shares of NerdWallet by 17.6% in the 2nd quarter. Rhumbline Advisers now owns 52,373 shares of the company’s stock valued at $765,000 after purchasing an additional 7,837 shares during the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Company Profile

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.