NerdWallet (NASDAQ:NRDS) Issues Earnings Results

NerdWallet (NASDAQ:NRDS) released its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, Briefing.com reports. The business had revenue of $161.90 million during 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 firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Down 2.8 %

Shares of NASDAQ NRDS traded down $0.38 during mid-day trading on Friday, reaching $13.14. 604,376 shares of the company were exchanged, compared to its average volume of 338,636. The company’s 50-day simple moving average is $15.09 and its 200-day simple moving average is $13.49. The stock has a market capitalization of $1.01 billion, a P/E ratio of -81.74 and a beta of 1.39. NerdWallet has a twelve month low of $6.38 and a twelve month high of $17.30.

Analyst Ratings Changes

NRDS has been the subject of a number of analyst reports. Citigroup raised their target price 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. Barclays increased their price target on shares of NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial cut their price target on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, KeyCorp increased their price target on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, NerdWallet presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Transactions at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 6,309 shares of NerdWallet 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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 45.93% of the stock is currently owned by corporate insiders.

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.