Analysts Set NerdWallet, Inc. (NASDAQ:NRDS) PT at $14.33

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.3333.

Several research analysts have issued reports on NRDS shares. Zacks Research cut NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $14.00 to $9.00 in a research note on Friday, March 13th. Oppenheimer cut their target price on NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Truist Financial reduced their target price on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th.

NerdWallet Price Performance

Shares of NRDS opened at $10.00 on Friday. The firm’s 50 day moving average is $10.84 and its 200-day moving average is $12.13. The stock has a market capitalization of $667.90 million, a P/E ratio of 15.63 and a beta of 1.44. NerdWallet has a 12-month low of $7.55 and a 12-month high of $16.24.

NerdWallet (NASDAQ:NRDS) last released 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 analyst estimates of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, equities research analysts forecast that NerdWallet will post 0.36 EPS for the current fiscal year.

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

Insider Activity

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total value of $742,916.16. Following the completion of the transaction, the insider directly owned 173,973 shares in the company, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares in the company, valued at approximately $540,462.90. This trade represents a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,043 shares of company stock worth $901,317. Corporate insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently made changes to their positions in the company. Covestor Ltd purchased a new position in NerdWallet during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchased a new stake in shares of NerdWallet in the third quarter valued at $111,000. Olympiad Research LP acquired a new stake in shares of NerdWallet in the third quarter worth $119,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of NerdWallet in the third quarter worth $119,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.