NerdWallet (NASDAQ:NRDS) Given New $16.00 Price Target at Truist Financial

NerdWallet (NASDAQ:NRDS) had its target price reduced by Truist Financial from $19.00 to $16.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on NRDS. Barclays cut their target price on NerdWallet from $18.00 to $16.00 and set an overweight rating on the stock in a research report on Thursday, August 1st. Oppenheimer reduced their price objective on NerdWallet from $20.00 to $18.00 and set an outperform rating on the stock in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $16.00.

NerdWallet Stock Down 0.8 %

Shares of NerdWallet stock opened at $10.65 on Monday. The firm has a market cap of $827.91 million, a PE ratio of -62.65 and a beta of 1.46. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The business’s fifty day moving average is $14.11 and its two-hundred day moving average is $14.58.

NerdWallet (NASDAQ:NRDS) last posted 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). The business had revenue of $150.60 million during the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) EPS. Equities research analysts anticipate that NerdWallet will post 0.22 EPS for the current year.

Insider Transactions at NerdWallet

In related news, Director Jennifer Ceran sold 5,897 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $13.70, for a total transaction of $80,788.90. Following the sale, the director now directly owns 36,099 shares in the company, valued at approximately $494,556.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jennifer Ceran sold 5,897 shares of NerdWallet stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $13.70, for a total transaction of $80,788.90. Following the sale, the director now owns 36,099 shares in the company, valued at $494,556.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $14.66, for a total transaction of $73,300.00. Following the transaction, the vice president now directly owns 2,341,971 shares in the company, valued at $34,333,294.86. The disclosure for this sale can be found here. Company insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of NerdWallet in the fourth quarter worth $110,000. SG Americas Securities LLC acquired a new stake in shares of NerdWallet in the 4th quarter valued at about $133,000. Arizona State Retirement System bought a new position in shares of NerdWallet during the fourth quarter worth 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 NerdWallet in the fourth quarter worth about $205,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.