NerdWallet (NASDAQ:NRDS) Announces Earnings Results

NerdWallet (NASDAQ:NRDS) posted its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, Briefing.com reports. NerdWallet had a negative return on equity of 3.24% and a negative net margin of 1.97%. The company had revenue of $161.90 million during the quarter, compared to analyst estimates of $156.95 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. NerdWallet’s revenue was down 4.5% on a year-over-year basis. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Price Performance

NerdWallet stock traded down $0.44 during mid-day trading on Friday, reaching $13.08. 503,482 shares of the company traded hands, compared to its average volume of 336,749. The firm’s fifty day moving average is $15.09 and its two-hundred day moving average is $13.49. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -83.06 and a beta of 1.39. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30.

Insider Transactions at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 6,309 shares of NerdWallet stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.16, for a total transaction of $101,953.44. Following the completion of the sale, the vice president now owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 45.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NRDS. KeyCorp upped their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Barclays lifted their price objective on shares of NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Citigroup increased their target price on shares of NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Finally, Truist Financial reduced their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NerdWallet has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.