NerdWallet (NASDAQ:NRDS) Releases Earnings Results, Misses Expectations By $0.02 EPS

NerdWallet (NASDAQ:NRDSGet Rating) issued its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02), MarketWatch Earnings reports.

Shares of NRDS stock opened at $9.70 on Friday. NerdWallet has a 1-year low of $9.04 and a 1-year high of $34.44. The stock’s 50 day simple moving average is $10.77.

NRDS has been the topic of a number of research reports. Citigroup cut their price objective on shares of NerdWallet from $30.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 15th. Oppenheimer reduced their price objective on NerdWallet from $30.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. KeyCorp lowered their target price on NerdWallet from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Finally, Morgan Stanley reduced their price target on NerdWallet from $17.00 to $13.50 and set an “equal weight” rating for the company in a research report on Monday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.93.

In related news, CEO Tim Chao-Ming Chen purchased 13,794 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was bought at an average price of $11.33 per share, with a total value of $156,286.02. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased a total of 84,900 shares of company stock worth $852,925 in the last three months. 49.56% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. acquired a new position in NerdWallet in the 4th quarter valued at $84,000. Bank of America Corp DE purchased a new position in shares of NerdWallet in the fourth quarter worth about $109,000. State of Tennessee Treasury Department acquired a new position in NerdWallet during the fourth quarter worth about $146,000. Woodline Partners LP purchased a new stake in NerdWallet during the 4th quarter valued at about $156,000. Finally, SG3 Management LLC acquired a new stake in NerdWallet in the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 49.04% of the company’s stock.

About NerdWallet (Get Rating)

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. The company's platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.

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