NerdWallet (NASDAQ:NRDS) Stock Gets Downgrade from Oppenheimer

NerdWallet (NASDAQ:NRDS) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Friday, Briefing.com reports.

Several other equities analysts have also recently issued reports on NRDS. Weiss Ratings upgraded shares of NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Truist Financial cut their price target on shares of NerdWallet from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Citigroup reduced their price objective on shares of NerdWallet from $11.00 to $8.50 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, William Blair cut shares of NerdWallet from an “outperform” rating to a “market perform” rating in a research note on Friday, November 6th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NerdWallet currently has an average rating of “Hold” and a consensus price target of $10.90.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS traded up $0.23 during midday trading on Friday, hitting $7.54. 448,628 shares of the stock were exchanged, compared to its average volume of 864,478. The stock has a market capitalization of $481.96 million, a price-to-earnings ratio of 9.69 and a beta of 1.20. The business’s 50-day moving average price is $9.52 and its 200 day moving average price is $9.69. NerdWallet has a 12 month low of $7.25 and a 12 month high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.11). NerdWallet had a net margin of 6.06% and a return on equity of 15.56%. The firm had revenue of $239.60 million during the quarter, compared to analyst estimates of $251.86 million. During the same period in the prior year, the company earned $0.34 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that NerdWallet will post 0.74 EPS for the current year.

Institutional Trading of NerdWallet

A number of large investors have recently bought and sold shares of NRDS. Arrowstreet Capital Limited Partnership raised its position in shares of NerdWallet by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after acquiring an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NerdWallet by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after purchasing an additional 153,790 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of NerdWallet by 25.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after purchasing an additional 202,838 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of NerdWallet during the 1st quarter valued at about $2,903,000. Finally, Russell Investments Group Ltd. grew its stake in NerdWallet by 97.0% during the third quarter. Russell Investments Group Ltd. now owns 176,576 shares of the company’s stock worth $1,550,000 after purchasing an additional 86,927 shares during the period. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Company Profile

NerdWallet, Inc. is a personal finance company that operates a digital platform to help consumers make financial decisions. Its website and mobile app provide educational content, comparison tools and recommendations across products such as credit cards, banking, mortgages, personal loans, insurance and investing services. The company was founded in 2009 by Tim Chen and offers services primarily in the United States, as well as in Canada and the United Kingdom. NerdWallet also serves small and midsize businesses with financial information and product recommendations.