NerdWallet, Inc. (NASDAQ:NRDS) Receives $17.00 Average Target Price from Analysts

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.00.

Several brokerages have recently weighed in on NRDS. KeyCorp upped their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays upped their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th.

NerdWallet Trading Up 1.3 %

Shares of NASDAQ NRDS opened at $13.67 on Friday. The stock has a fifty day moving average price of $13.86 and a 200 day moving average price of $13.35. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30. The company has a market cap of $1.00 billion, a P/E ratio of -97.64 and a beta of 1.31.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The company’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. On average, sell-side analysts forecast that NerdWallet will post -0.11 EPS for the current fiscal year.

Insider Activity at NerdWallet

In other news, insider Samuel Yount sold 3,003 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $13.45, for a total value of $40,390.35. Following the completion of the sale, the insider now directly owns 401,101 shares in the company, valued at approximately $5,394,808.45. The trade was a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the sale, the chief financial officer now directly owns 313,100 shares in the company, valued at approximately $4,395,924. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 822,353 shares of company stock valued at $11,051,439 over the last three months. 45.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NRDS. Quarry LP bought a new position in NerdWallet in the second quarter worth about $31,000. nVerses Capital LLC bought a new stake in shares of NerdWallet in the 3rd quarter worth approximately $62,000. US Bancorp DE bought a new stake in shares of NerdWallet in the 3rd quarter worth approximately $86,000. Intech Investment Management LLC bought a new position in NerdWallet during the 3rd quarter worth $135,000. Finally, TNF LLC acquired a new stake in NerdWallet in the third quarter worth $178,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.