NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.20 Consensus Target Price from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has received a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.1667.

Several research analysts have commented on NRDS shares. Oppenheimer decreased their target price on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday. Zacks Research lowered shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Morgan Stanley boosted their target price on shares of NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Barclays increased their target price on NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Truist Financial lowered their price target on NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $11.17 on Monday. The company has a market capitalization of $812.17 million, a PE ratio of 17.45 and a beta of 1.44. The stock has a fifty day moving average of $11.90 and a 200-day moving average of $12.11. NerdWallet has a one year low of $7.55 and a one year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.NerdWallet’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts forecast that NerdWallet will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its board has approved a stock repurchase program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On NerdWallet

Institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new position in shares of NerdWallet in the fourth quarter worth $34,000. Tower Research Capital LLC TRC grew its stake in NerdWallet by 37.1% in the second 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 in the last quarter. Polymer Capital Management US LLC acquired a new position in NerdWallet in the 3rd quarter worth about $111,000. Moran Wealth Management LLC purchased a new stake in shares of NerdWallet during the 4th quarter worth about $148,000. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of NerdWallet during the 4th quarter worth about $150,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.