NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.00 Consensus Target Price from Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $15.00.

A number of equities research analysts have issued reports on the company. KeyCorp cut their price target on NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Citigroup dropped their price objective on NerdWallet from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in NerdWallet by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock worth $11,537,000 after purchasing an additional 64,366 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of NerdWallet by 556.8% during the 4th quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company’s stock valued at $3,206,000 after purchasing an additional 204,326 shares during the last quarter. Jump Financial LLC purchased a new stake in NerdWallet during the 4th quarter valued at $799,000. Quinn Opportunity Partners LLC lifted its position in NerdWallet by 3,324.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock worth $11,887,000 after buying an additional 867,681 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in NerdWallet by 28.0% during the first quarter. Vontobel Holding Ltd. now owns 25,549 shares of the company’s stock worth $231,000 after buying an additional 5,589 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Price Performance

Shares of NASDAQ:NRDS opened at $10.38 on Friday. The company has a market capitalization of $773.41 million, a P/E ratio of 26.62 and a beta of 1.45. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.45. The firm’s 50 day simple moving average is $10.93 and its two-hundred day simple moving average is $11.02.

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.