NerdWallet (NASDAQ:NRDS) Reaches New 52-Week Low – Should You Sell?

NerdWallet, Inc. (NASDAQ:NRDS)’s share price reached a new 52-week low on Thursday . The stock traded as low as $8.58 and last traded at $8.63, with a volume of 156352 shares. The stock had previously closed at $9.49.

Analyst Upgrades and Downgrades

NRDS has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Barclays increased their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Stock Performance

The stock has a market capitalization of $612.87 million, a P/E ratio of 20.68 and a beta of 1.39. The business has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $12.64.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $183.80 million for the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. On average, sell-side analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On NerdWallet

Large investors have recently modified their holdings of the company. Topline Capital Management LLC bought a new stake in shares of NerdWallet in the 4th quarter valued at about $69,840,000. Geode Capital Management LLC increased its position in NerdWallet by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after purchasing an additional 19,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NerdWallet by 157.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after purchasing an additional 555,329 shares during the period. Quinn Opportunity Partners LLC lifted its stake in shares of NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after purchasing an additional 867,681 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock worth $11,537,000 after acquiring an additional 64,366 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.