NerdWallet (NASDAQ:NRDS) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of NerdWallet (NASDAQ:NRDS) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Several other analysts have also issued reports on the stock. KeyCorp increased their price target on shares of NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their target price on shares of NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Barclays upped their price objective on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Truist Financial dropped their target price on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.20.

NerdWallet Trading Down 2.0%

NASDAQ:NRDS opened at $10.85 on Thursday. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.24. The stock has a market cap of $788.90 million, a P/E ratio of 16.95 and a beta of 1.43. The stock has a 50 day simple moving average of $12.07 and a 200 day simple moving average of $12.09.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.55%. NerdWallet’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other NerdWallet news, insider Samuel Yount sold 15,945 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total value of $255,757.80. Following the transaction, the insider owned 358,116 shares in the company, valued at approximately $5,744,180.64. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 46.54% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently modified their holdings of the business. Covestor Ltd bought a new stake in shares of NerdWallet in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted its position in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after buying an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of NerdWallet in the 3rd quarter valued at $111,000. Olympiad Research LP bought a new position in shares of NerdWallet during the third quarter valued at about $119,000. Finally, Prelude Capital Management LLC purchased a new position in NerdWallet in the 3rd quarter worth approximately $119,000. 38.81% of the stock is owned by institutional investors.

NerdWallet Company Profile

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.