NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.40 Consensus PT from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.40.

Several brokerages have issued reports on NRDS. Morgan Stanley upped their target price on NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NerdWallet in a research report on Wednesday, October 8th. Barclays upped their price objective on shares of NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, November 7th. KeyCorp lifted their target price on shares of NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Truist Financial increased their price target on shares of NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th.

Insiders Place Their Bets

In related news, CAO Nicholas Tatum sold 4,272 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $10.76, for a total transaction of $45,966.72. Following the completion of the sale, the chief accounting officer directly owned 68,020 shares of the company’s stock, valued at approximately $731,895.20. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the sale, the insider owned 358,116 shares in the company, valued at approximately $5,744,180.64. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,503 shares of company stock valued at $715,244. Company insiders own 46.54% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after purchasing an additional 1,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NerdWallet by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company’s stock worth $249,000 after buying an additional 1,934 shares during the period. JPMorgan Chase & Co. grew its stake in shares of NerdWallet by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after buying an additional 2,161 shares in the last quarter. State of Wyoming raised its holdings in shares of NerdWallet by 4.2% in the 3rd quarter. State of Wyoming now owns 68,537 shares of the company’s stock valued at $737,000 after buying an additional 2,753 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of NerdWallet by 22.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,489 shares of the company’s stock valued at $170,000 after buying an additional 2,877 shares during the period. 38.81% of the stock is currently owned by institutional investors and hedge funds.

NerdWallet Trading Down 4.3%

NRDS stock opened at $14.37 on Wednesday. The firm has a 50-day moving average of $13.38 and a two-hundred day moving average of $11.64. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.24. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 14.97 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Thursday, November 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.14. The business had revenue of $215.10 million for the quarter, compared to analysts’ expectations of $193.31 million. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts forecast that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet announced that its board has approved a share buyback plan on Tuesday, December 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

About NerdWallet

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.