NerdWallet, Inc. (NASDAQ:NRDS) Receives Average Recommendation of “Hold” from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has been given an average rating of “Hold” by the eight research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.3333.

A number of equities research analysts have weighed in on NRDS shares. Zacks Research downgraded NerdWallet from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Oppenheimer cut their price objective on NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Truist Financial decreased their price objective on NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Friday, March 13th.

Insiders Place Their Bets

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the sale, the chief accounting officer directly owned 47,202 shares in the company, valued at $540,462.90. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total value of $742,916.16. Following the transaction, the insider directly owned 173,973 shares in the company, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 86,043 shares of company stock valued at $901,317 in the last ninety days. 46.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently modified their holdings of NRDS. Vanguard Group Inc. increased its stake in shares of NerdWallet by 1.2% during the third quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after buying an additional 48,205 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of NerdWallet by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,169,058 shares of the company’s stock valued at $15,842,000 after acquiring an additional 55,003 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in NerdWallet by 26.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after acquiring an additional 234,691 shares during the period. Geode Capital Management LLC boosted its holdings in NerdWallet by 9.7% in the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after acquiring an additional 81,986 shares in the last quarter. Finally, State Street Corp boosted its holdings in NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock valued at $12,495,000 after acquiring an additional 28,844 shares in the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Trading Down 3.1%

Shares of NASDAQ:NRDS traded down $0.33 during trading on Friday, reaching $10.20. The company had a trading volume of 78,467 shares, compared to its average volume of 1,015,437. The company has a fifty day moving average of $10.90 and a two-hundred day moving average of $12.12. The stock has a market capitalization of $681.26 million, a P/E ratio of 15.85 and a beta of 1.44. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same quarter last year, the company posted $0.51 EPS. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities research analysts predict that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet announced that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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.