NerdWallet (NASDAQ:NRDS) Shares Down 5.9% Following Analyst Downgrade

Shares of NerdWallet, Inc. (NASDAQ:NRDS) were down 5.9% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $18.00 to $14.00. KeyCorp currently has an overweight rating on the stock. NerdWallet traded as low as $8.53 and last traded at $8.54. Approximately 212,510 shares were traded during trading, a decline of 62% from the average daily volume of 557,157 shares. The stock had previously closed at $9.08.

Other analysts have also issued research reports about the stock. Morgan Stanley dropped their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Citigroup cut their target price on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays increased their price target on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Institutional Trading of NerdWallet

Several hedge funds have recently made changes to their positions in NRDS. KLP Kapitalforvaltning AS bought a new position in NerdWallet during the 4th quarter worth $80,000. US Bancorp DE increased its holdings in shares of NerdWallet by 41.2% in the 4th quarter. US Bancorp DE now owns 9,592 shares of the company’s stock worth $128,000 after acquiring an additional 2,800 shares during the period. AXQ Capital LP acquired a new stake in shares of NerdWallet in the 4th quarter worth about $138,000. Point72 Asia Singapore Pte. Ltd. lifted its position in NerdWallet by 3,417.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock valued at $140,000 after purchasing an additional 10,218 shares during the last quarter. Finally, RHS Financial LLC acquired a new position in NerdWallet during the 1st quarter valued at about $100,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Trading Down 6.6 %

The firm’s 50-day simple moving average is $8.98 and its 200 day simple moving average is $12.03. The stock has a market cap of $628.44 million, a P/E ratio of 21.20 and a beta of 1.41.

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

NerdWallet Company Profile

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.