NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.50.

Several brokerages recently issued reports on NRDS. KeyCorp boosted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Barclays upped their price target on NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Truist Financial reduced their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Citigroup upped their price target on NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th.

Insiders Place Their Bets

In other news, VP Samuel Yount sold 6,309 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $37,979,910.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of NerdWallet by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,526,688 shares of the company’s stock valued at $31,352,000 after buying an additional 187,422 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in NerdWallet by 70.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,159 shares of the company’s stock valued at $1,415,000 after acquiring an additional 65,931 shares during the period. FMR LLC raised its stake in NerdWallet by 88.7% in the 3rd quarter. FMR LLC now owns 3,486,387 shares of the company’s stock valued at $30,994,000 after acquiring an additional 1,638,515 shares during the period. Brandywine Global Investment Management LLC raised its stake in NerdWallet by 23.5% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 1,228,046 shares of the company’s stock valued at $10,917,000 after acquiring an additional 233,975 shares during the period. Finally, SG Americas Securities LLC bought a new stake in NerdWallet in the 4th quarter valued at $133,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Performance

Shares of NRDS opened at $12.89 on Wednesday. The stock has a 50 day simple moving average of $15.01 and a 200 day simple moving average of $13.58. NerdWallet has a 52-week low of $6.38 and a 52-week high of $17.30. The firm has a market capitalization of $992.66 million, a PE ratio of -75.82 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share (EPS) for the quarter. NerdWallet had a negative return on equity of 3.39% and a negative net margin of 2.10%. The business had revenue of $161.90 million during the quarter, compared to analyst estimates of $156.95 million. During the same period in the previous year, the firm earned $0.02 EPS. NerdWallet’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts predict that NerdWallet will post 0.22 EPS for the current fiscal year.

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.