NerdWallet, Inc. (NASDAQ:NRDS) Receives $17.00 Average Price Target from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $17.00.

Several research firms recently commented on NRDS. Morgan Stanley lifted their price target on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp increased their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th.

NerdWallet Price Performance

NASDAQ:NRDS opened at $13.30 on Friday. The company has a market cap of $976.74 million, a price-to-earnings ratio of -94.99 and a beta of 1.31. NerdWallet has a 1 year low of $10.10 and a 1 year high of $17.30. The stock’s 50 day simple moving average is $13.72 and its two-hundred day simple moving average is $13.35.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The company had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $168.25 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. NerdWallet’s quarterly revenue was up 25.2% on a year-over-year basis. As a group, analysts anticipate that NerdWallet will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the transaction, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This trade represents a 8.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 154,465 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $13.14, for a total value of $2,029,670.10. Following the transaction, the insider now directly owns 409,147 shares in the company, valued at $5,376,191.58. The trade was a 27.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 379,014 shares of company stock worth $5,070,916 over the last quarter. Company insiders own 45.93% of the company’s stock.

Institutional Trading of NerdWallet

Several institutional investors and hedge funds have recently made changes to their positions in NRDS. Basswood Capital Management L.L.C. purchased a new position in NerdWallet during the 3rd quarter valued at about $6,446,000. Jacobs Levy Equity Management Inc. raised its stake in NerdWallet by 346.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 498,244 shares of the company’s stock worth $6,333,000 after buying an additional 386,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NerdWallet by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock worth $11,239,000 after buying an additional 86,376 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NerdWallet by 32.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,139 shares of the company’s stock worth $4,488,000 after buying an additional 86,029 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in NerdWallet during the 3rd quarter valued at $890,000. 38.81% of the stock is currently owned by institutional investors.

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.