NerdWallet, Inc. (NASDAQ:NRDS) Receives $16.00 Consensus PT from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $16.00.

Several research firms have recently issued reports on NRDS. Barclays dropped their price objective on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Truist Financial lowered their price target on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Oppenheimer lowered their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the transaction, the vice president now directly owns 2,329,471 shares in the company, valued at $27,976,946.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 45.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of NerdWallet in the 3rd quarter worth about $62,000. Cubist Systematic Strategies LLC lifted its position in shares of NerdWallet by 11.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock worth $229,000 after buying an additional 1,561 shares during the last quarter. Quarry LP bought a new position in shares of NerdWallet in the 2nd quarter worth about $31,000. Algert Global LLC bought a new position in shares of NerdWallet in the 2nd quarter worth about $196,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NerdWallet in the 2nd quarter worth about $245,000. 38.81% of the stock is currently owned by institutional investors.

NerdWallet Stock Performance

Shares of NRDS stock opened at $12.29 on Tuesday. NerdWallet has a one year low of $6.38 and a one year high of $17.30. The company has a 50 day moving average price of $12.40 and a 200 day moving average price of $13.35. The firm has a market capitalization of $955.40 million, a price-to-earnings ratio of -72.29 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. During the same period last year, the company posted ($0.14) EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that NerdWallet will post -0.01 EPS for the current fiscal year.

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.