Barclays Cuts NerdWallet (NASDAQ:NRDS) Price Target to $16.00

NerdWallet (NASDAQ:NRDS) had its price target cut by Barclays from $18.00 to $16.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Oppenheimer reduced their price target on NerdWallet from $20.00 to $18.00 and set an outperform rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $16.00.

NerdWallet Trading Down 4.8 %

Shares of NerdWallet stock traded down $0.54 on Thursday, hitting $10.74. The stock had a trading volume of 642,689 shares, compared to its average volume of 340,967. The stock has a market cap of $834.91 million, a price-to-earnings ratio of -63.71 and a beta of 1.46. The company’s 50 day moving average price is $14.29 and its 200 day moving average price is $14.66. NerdWallet has a 52-week low of $6.38 and a 52-week high of $17.30.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. Analysts predict that NerdWallet will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 2,341,971 shares of the company’s stock, valued at approximately $34,333,294.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NerdWallet news, Director Jennifer Ceran sold 5,897 shares of the firm’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 sale, the director now directly owns 36,099 shares in the company, valued at approximately $494,556.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $14.66, for a total transaction of $73,300.00. Following the transaction, the vice president now owns 2,341,971 shares in the company, valued at approximately $34,333,294.86. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of NerdWallet during the 4th quarter worth approximately $110,000. SG Americas Securities LLC acquired a new stake in NerdWallet in the fourth quarter worth about $133,000. Arizona State Retirement System bought a new stake in shares of NerdWallet during the 4th quarter valued at $151,000. Olympiad Research LP bought a new stake in NerdWallet in the fourth quarter valued at about $173,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in NerdWallet during the fourth quarter worth about $205,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.