NerdWallet (NASDAQ:NRDS) Price Target Lowered to $16.00 at Barclays

NerdWallet (NASDAQ:NRDS) had its price objective reduced by Barclays from $18.00 to $16.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Oppenheimer dropped their price target on NerdWallet from $20.00 to $18.00 and set an outperform rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NerdWallet currently has an average rating of Moderate Buy and a consensus target price of $16.50.

NerdWallet Stock Performance

Shares of NerdWallet stock opened at $11.28 on Thursday. NerdWallet has a 52-week low of $6.38 and a 52-week high of $17.30. The company’s 50 day moving average price is $14.29 and its 200-day moving average price is $14.66. The stock has a market capitalization of $876.91 million, a price-to-earnings ratio of -66.35 and a beta of 1.46.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS 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 net margin of 1.85% and a negative return on equity of 2.98%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. As a group, equities research analysts forecast that NerdWallet will post 0.22 earnings per share for the current fiscal year.

Insider Activity at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of the stock in a transaction 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 transaction, the vice president now owns 2,341,971 shares in the company, valued at $34,333,294.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jennifer Ceran sold 5,897 shares of the business’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 sale, the director now directly owns 36,099 shares of the company’s stock, valued at approximately $494,556.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Samuel Yount sold 5,000 shares of the company’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 in the company, valued at approximately $34,333,294.86. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

Several hedge funds have recently added to or reduced their stakes in NRDS. Rhumbline Advisers grew its holdings in shares of NerdWallet by 17.6% during the second quarter. Rhumbline Advisers now owns 52,373 shares of the company’s stock valued at $765,000 after buying an additional 7,837 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of NerdWallet in the 2nd quarter worth $250,000. Legato Capital Management LLC purchased a new position in shares of NerdWallet in the second quarter worth $555,000. Bank of New York Mellon Corp raised its stake in shares of NerdWallet by 27.6% in the second quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock worth $1,794,000 after purchasing an additional 26,572 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of NerdWallet during the second quarter valued at $445,000. 38.81% of the stock is owned by institutional investors.

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.