NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.20 Consensus Price Target from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has been given an average rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.1667.

A number of equities analysts have recently issued reports on the company. 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. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Morgan Stanley boosted their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Finally, Truist Financial cut their target price on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th.

NerdWallet Stock Performance

NASDAQ NRDS opened at $11.16 on Monday. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24. The company has a fifty day moving average of $11.78 and a 200-day moving average of $12.14. The company has a market capitalization of $745.38 million, a P/E ratio of 17.44 and a beta of 1.44.

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

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the sale, the chief accounting officer owned 47,202 shares of the company’s stock, valued at approximately $540,462.90. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after buying an additional 497,978 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of NerdWallet during the third quarter valued at about $2,812,000. Nuveen LLC increased its holdings in shares of NerdWallet by 296.1% in the fourth quarter. Nuveen LLC now owns 330,631 shares of the company’s stock worth $4,480,000 after buying an additional 247,157 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 buying an additional 234,691 shares during the period. Finally, UBS Group AG lifted its stake in shares of NerdWallet by 52.2% in the 4th quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after acquiring an additional 167,954 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.