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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.40.

NRDS has been the topic of several research analyst reports. Morgan Stanley upped their target price on NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Truist Financial raised their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. KeyCorp lifted their price objective on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Barclays increased their target price on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research downgraded shares of NerdWallet from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $10.54 on Thursday. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24. The company has a 50-day simple moving average of $13.55 and a 200 day simple moving average of $12.16. The company has a market capitalization of $766.36 million, a P/E ratio of 10.98 and a beta of 1.43.

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

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

Insider Buying and Selling at NerdWallet

In related news, insider Samuel Yount sold 15,945 shares of NerdWallet stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total value of $255,757.80. Following the completion of the sale, the insider owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 44,231 shares of company stock worth $669,277 over the last quarter. 46.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Covestor Ltd bought a new stake in shares of NerdWallet during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC increased its holdings in NerdWallet by 37.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $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 worth approximately $111,000. Olympiad Research LP bought a new position in shares of NerdWallet in the third quarter valued at approximately $119,000. Finally, Prelude Capital Management LLC purchased a new position in shares of NerdWallet during the third quarter valued at 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.