NerdWallet, Inc. (NASDAQ:NRDS) Given Consensus Rating of “Hold” by Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $15.40.

Several analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of NerdWallet in a research report on Wednesday, October 8th. Barclays increased their price objective on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Truist Financial boosted their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Morgan Stanley increased their target price on shares of NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th.

Insider Activity at NerdWallet

In related news, insider Samuel Yount sold 15,945 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the sale, the insider directly owned 358,116 shares in the company, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 44,231 shares of company stock worth $669,277 over the last quarter. Company insiders own 46.54% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in NerdWallet in the 2nd quarter valued at about $1,046,000. Walleye Capital LLC bought a new position in NerdWallet in the second quarter worth approximately $948,000. Los Angeles Capital Management LLC increased its holdings in NerdWallet by 64.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock worth $2,581,000 after purchasing an additional 92,487 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of NerdWallet by 65.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 124,268 shares of the company’s stock worth $1,363,000 after buying an additional 49,058 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of NerdWallet during the first quarter valued at $284,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $12.84 on Friday. The company has a 50-day moving average price of $14.19 and a 200-day moving average price of $12.02. The stock has a market capitalization of $933.60 million, a P/E ratio of 13.38 and a beta of 1.43. NerdWallet has a 1 year low of $7.55 and a 1 year high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. NerdWallet had a net margin of 9.22% and a return on equity of 9.27%. The firm had revenue of $215.10 million for the quarter, compared to the consensus estimate of $193.31 million. NerdWallet’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NerdWallet will post 0.36 earnings per share for the current fiscal year.

NerdWallet announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.