NerdWallet (NASDAQ:NRDS) Releases Earnings Results, Misses Expectations By $0.06 EPS

NerdWallet (NASDAQ:NRDS) announced its earnings results on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06), Briefing.com reports. The company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative return on equity of 3.36% and a negative net margin of 2.10%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share. NerdWallet updated its Q3 2024 guidance to EPS.

NerdWallet Trading Down 21.8 %

NASDAQ:NRDS traded down $3.19 during mid-day trading on Thursday, hitting $11.44. 1,873,303 shares of the company’s stock traded hands, compared to its average volume of 335,127. The firm has a 50 day moving average of $14.38 and a two-hundred day moving average of $14.71. NerdWallet has a 12 month low of $6.38 and a 12 month high of $17.30. The firm has a market capitalization of $889.35 million, a price-to-earnings ratio of -68.53 and a beta of 1.46.

Insider Activity at NerdWallet

In related news, Director Jennifer Ceran sold 5,897 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $13.70, for a total transaction of $80,788.90. Following the completion of the sale, the director now owns 36,099 shares in the company, valued at approximately $494,556.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NerdWallet news, Director Jennifer Ceran sold 5,897 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $13.70, for a total value of $80,788.90. Following the completion of the sale, the director now owns 36,099 shares in the company, valued at approximately $494,556.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 owns 2,341,971 shares of the company’s stock, valued at approximately $34,333,294.86. The disclosure for this sale can be found here. 45.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NRDS has been the topic of several recent analyst reports. Oppenheimer dropped their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays decreased their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

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.