Barclays Trims NerdWallet (NASDAQ:NRDS) Target Price to $16.00

NerdWallet (NASDAQ:NRDS) had its target price decreased by research analysts at Barclays from $18.00 to $16.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 37.34% from the company’s previous close.

Separately, Oppenheimer cut their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, NerdWallet currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

NerdWallet Stock Performance

Shares of NRDS stock traded down $2.98 during mid-day trading on Thursday, hitting $11.65. 747,774 shares of the stock traded hands, compared to its average volume of 327,465. NerdWallet has a twelve month low of $6.38 and a twelve month high of $17.30. The firm has a market cap of $905.67 million, a price-to-earnings ratio of -68.53 and a beta of 1.46. The company’s 50-day simple moving average is $14.38 and its 200-day simple moving average is $14.71.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.36%. The firm had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. During the same quarter last year, the business posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that NerdWallet will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $14.66, for a total value of $73,300.00. Following the completion of the sale, the vice president now directly owns 2,341,971 shares in the company, valued at $34,333,294.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NerdWallet news, Director Jennifer Ceran sold 5,897 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $13.70, for a total transaction of $80,788.90. Following the sale, the director now owns 36,099 shares of the company’s stock, valued at $494,556.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $14.66, for a total transaction of $73,300.00. Following the completion of the sale, the vice president now directly owns 2,341,971 shares in the company, valued at approximately $34,333,294.86. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its holdings in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after acquiring an additional 481,958 shares during the last quarter. Vanguard Group Inc. boosted its holdings in NerdWallet by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after buying an additional 432,262 shares during the period. Azora Capital LP boosted its holdings in NerdWallet by 23.7% in the 4th quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock worth $15,516,000 after buying an additional 202,149 shares during the period. G2 Investment Partners Management LLC purchased a new stake in NerdWallet in the 4th quarter worth approximately $2,463,000. Finally, Legato Capital Management LLC purchased a new stake in NerdWallet in the 2nd quarter worth approximately $555,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.