NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.40.

NRDS has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Truist Financial increased their price objective on NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th. KeyCorp lifted their target price on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Barclays boosted their target price on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research raised NerdWallet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th.

Insider Transactions at NerdWallet

In other NerdWallet news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the transaction, the insider owned 358,116 shares in the company, valued at $5,744,180.64. The trade was a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 44,231 shares of company stock valued at $669,277 in the last ninety days. 46.54% of the stock is owned by insiders.

Hedge Funds Weigh In On NerdWallet

Institutional investors and hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in NerdWallet during the third quarter worth approximately $2,812,000. Arrowstreet Capital Limited Partnership grew its position in shares of NerdWallet by 26.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after acquiring an additional 234,691 shares during the last quarter. Millennium Management LLC increased its holdings in shares of NerdWallet by 23.9% in the 1st quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after acquiring an additional 166,984 shares during the period. UBS Group AG raised its position in NerdWallet by 91.9% in the 3rd quarter. UBS Group AG now owns 321,637 shares of the company’s stock valued at $3,461,000 after purchasing an additional 154,055 shares during the last quarter. Finally, Kent Lake PR LLC boosted its stake in NerdWallet by 115.6% during the 2nd quarter. Kent Lake PR LLC now owns 275,000 shares of the company’s stock worth $3,017,000 after purchasing an additional 147,466 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Performance

NerdWallet stock opened at $13.90 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of 14.48 and a beta of 1.43. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The firm has a 50 day moving average price of $14.12 and a 200 day moving average price of $11.95.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.14. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm had revenue of $215.10 million for the quarter, compared to the consensus estimate of $193.31 million. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 16th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.