NerdWallet (NASDAQ:NRDS) Shares Gap Down After Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS) gapped down before the market opened on Friday after Barclays lowered their price target on the stock from $17.00 to $14.00. The stock had previously closed at $11.08, but opened at $9.25. Barclays currently has an overweight rating on the stock. NerdWallet shares last traded at $8.97, with a volume of 392,704 shares.

Several other analysts also recently commented on the stock. KeyCorp reduced their price target on shares of NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Citigroup reduced their target price on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th.

Institutional Investors Weigh In On NerdWallet

Large investors have recently modified their holdings of the stock. Topline Capital Management LLC purchased a new position in shares of NerdWallet during the 4th quarter worth approximately $69,840,000. Vanguard Group Inc. raised its position in NerdWallet by 1.8% in the first quarter. Vanguard Group Inc. now owns 3,899,417 shares of the company’s stock worth $35,290,000 after acquiring an additional 69,499 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in NerdWallet by 3.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock worth $10,926,000 after acquiring an additional 29,829 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NerdWallet by 9.7% in the 2nd quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after purchasing an additional 81,986 shares in the last quarter. Finally, Quinn Opportunity Partners LLC increased its holdings in shares of NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after purchasing an additional 867,681 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Stock Performance

The stock’s fifty day moving average price is $10.83 and its 200-day moving average price is $10.65. The firm has a market cap of $684.00 million, a PE ratio of 14.81 and a beta of 1.45.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. NerdWallet had a return on equity of 2.61% and a net margin of 6.11%. The firm had revenue of $186.90 million during the quarter, compared to the consensus estimate of $195.32 million. During the same period last year, the business posted ($0.12) EPS. NerdWallet’s quarterly revenue was up 24.1% on a year-over-year basis. Sell-side analysts forecast that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

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.