Brokerages Set NerdWallet, Inc. (NASDAQ:NRDS) PT at $16.00

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $16.00.

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

NerdWallet Trading Down 2.4 %

Shares of NASDAQ:NRDS opened at $12.58 on Friday. The firm has a market capitalization of $977.94 million, a PE ratio of -74.00 and a beta of 1.43. NerdWallet has a 1-year low of $6.38 and a 1-year high of $17.30. The business’s 50 day moving average is $12.81 and its 200-day moving average is $13.68.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business 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%. NerdWallet’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share. On average, sell-side analysts predict that NerdWallet will post -0.01 EPS for the current year.

Insider Transactions at NerdWallet

In related news, VP Samuel Yount sold 5,000 shares of NerdWallet 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 directly owns 2,341,971 shares of the company’s stock, valued at $34,333,294.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of NerdWallet in the second quarter valued at approximately $31,000. Olympiad Research LP bought a new position in NerdWallet in the 4th quarter valued at $173,000. Algert Global LLC acquired a new stake in shares of NerdWallet in the 2nd quarter valued at $196,000. The Manufacturers Life Insurance Company raised its position in shares of NerdWallet by 16.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of NerdWallet by 11.1% during the second quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after acquiring an additional 1,561 shares during the period. 38.81% of the stock is owned by 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.