NerdWallet (NASDAQ:NRDS) Sets New 12-Month Low – Time to Sell?

Shares of NerdWallet, Inc. (NASDAQ:NRDS) reached a new 52-week low on Thursday . The company traded as low as $8.58 and last traded at $8.63, with a volume of 156352 shares changing hands. The stock had previously closed at $9.49.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NRDS shares. Barclays boosted their price target on NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley cut their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Stock Down 3.7 %

The business has a 50 day moving average of $11.16 and a 200 day moving average of $12.64. The company has a market capitalization of $612.87 million, a P/E ratio of 20.68 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. On average, research analysts anticipate that NerdWallet, Inc. will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Topline Capital Management LLC bought a new position in NerdWallet during the 4th quarter worth about $69,840,000. Geode Capital Management LLC raised its stake in NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock worth $11,751,000 after buying an additional 19,330 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NerdWallet by 157.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after buying an additional 555,329 shares during the period. Quinn Opportunity Partners LLC boosted its position in NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after acquiring an additional 867,681 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NerdWallet by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock valued at $11,537,000 after acquiring an additional 64,366 shares during the period. Institutional investors own 38.81% of the company’s stock.

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.