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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.00.

A number of analysts recently weighed in on the stock. Oppenheimer dropped their price objective on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Truist Financial dropped their price objective on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Barclays dropped their price objective on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st.

NerdWallet Stock Up 0.6 %

NRDS stock opened at $12.29 on Tuesday. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The firm’s 50-day simple moving average is $12.40 and its 200 day simple moving average is $13.35. The stock has a market cap of $955.40 million, a PE ratio of -72.29 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The firm had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. During the same period last year, the business earned ($0.14) EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that NerdWallet will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the transaction, the vice president now owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Several hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its stake in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after purchasing an additional 1,561 shares during the last quarter. Marshall Wace LLP grew its stake in shares of NerdWallet by 2.0% in the 2nd quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,070 shares during the last quarter. Quarry LP acquired a new position in shares of NerdWallet in the 2nd quarter worth approximately $31,000. The Manufacturers Life Insurance Company grew its stake in shares of NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Steamboat Capital Partners LLC grew its stake in shares of NerdWallet by 1.7% in the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after purchasing an additional 4,030 shares during the last quarter. Institutional investors and hedge funds 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.