Oppenheimer Lowers NerdWallet (NASDAQ:NRDS) Price Target to $18.00

NerdWallet (NASDAQ:NRDS) had its price target cut by Oppenheimer from $20.00 to $18.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

NerdWallet Price Performance

NRDS traded down $0.54 during trading on Thursday, hitting $10.74. The stock had a trading volume of 642,689 shares, compared to its average volume of 340,967. The company has a 50 day moving average price of $14.29 and a 200-day moving average price of $14.66. NerdWallet has a one year low of $6.38 and a one year high of $17.30. The firm has a market cap of $834.91 million, a price-to-earnings ratio of -63.71 and a beta of 1.46.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $150.60 million for the quarter, compared to the consensus estimate of $149.93 million. NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. As a group, sell-side analysts predict that NerdWallet will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $14.66, for a total transaction of $73,300.00. Following the completion of the transaction, the vice president now directly owns 2,341,971 shares in the company, valued at approximately $34,333,294.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 2,341,971 shares of the company’s stock, valued at approximately $34,333,294.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer Ceran sold 5,897 shares of NerdWallet stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $13.70, for a total value of $80,788.90. Following the sale, the director now directly owns 36,099 shares in the company, valued at $494,556.30. 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

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new stake in NerdWallet in the fourth quarter valued at $110,000. SG Americas Securities LLC bought a new stake in shares of NerdWallet in the 4th quarter valued at about $133,000. Arizona State Retirement System acquired a new stake in shares of NerdWallet in the fourth quarter valued at about $151,000. Olympiad Research LP bought a new position in shares of NerdWallet during the fourth quarter worth about $173,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of NerdWallet in the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Company Profile

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.