Morgan Stanley Forecasts Strong Price Appreciation for NerdWallet (NASDAQ:NRDS) Stock

NerdWallet (NASDAQ:NRDS) had its price target lifted by investment analysts at Morgan Stanley from $14.00 to $15.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 2.11% from the company’s current price.

A number of other research analysts have also commented on NRDS. Truist Financial lowered their price objective on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Barclays raised their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer lowered their price objective on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Price Performance

NASDAQ NRDS opened at $14.69 on Wednesday. NerdWallet has a 12 month low of $10.10 and a 12 month high of $17.30. The firm has a market capitalization of $1.16 billion, a PE ratio of -104.93 and a beta of 1.42. The company’s 50 day simple moving average is $12.41 and its 200 day simple moving average is $13.23.

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

Insider Buying and Selling

In related news, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the purchase, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 45.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NerdWallet

A number of institutional investors have recently modified their holdings of NRDS. Quarry LP acquired a new stake in shares of NerdWallet during the 2nd quarter valued at $31,000. nVerses Capital LLC acquired a new stake in shares of NerdWallet during the 3rd quarter valued at $62,000. US Bancorp DE acquired a new stake in shares of NerdWallet during the 3rd quarter valued at $86,000. TNF LLC acquired a new stake in shares of NerdWallet during the 3rd quarter valued at $178,000. Finally, Algert Global LLC acquired a new stake in shares of NerdWallet during the 2nd quarter valued at $196,000. 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.