Truist Financial Has Lowered Expectations for NerdWallet (NASDAQ:NRDS) Stock Price

NerdWallet (NASDAQ:NRDS) had its target price dropped by research analysts at Truist Financial from $18.00 to $15.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 71.21% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Zacks Research cut shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Oppenheimer set a $12.00 target price on shares of NerdWallet in a research note on Monday. Citigroup cut their target price on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NerdWallet in a research note on Monday, May 4th. Finally, Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $14.00 to $9.00 in a research note on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.83.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded down $0.38 during midday trading on Monday, reaching $8.76. The stock had a trading volume of 436,731 shares, compared to its average volume of 891,222. The stock has a 50-day moving average of $10.61 and a 200-day moving average of $12.09. The company has a market capitalization of $585.15 million, a price-to-earnings ratio of 9.42 and a beta of 1.34. NerdWallet has a 12-month low of $8.42 and a 12-month high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts forecast that NerdWallet will post 0.85 EPS for the current fiscal year.

Insider Activity

In other news, CAO Nicholas Tatum sold 10,151 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the sale, the chief accounting officer owned 47,202 shares in the company, valued at approximately $540,462.90. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the sale, the insider owned 173,973 shares of the company’s stock, valued at $1,795,401.36. This trade represents a 29.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,043 shares of company stock valued at $901,317 in the last 90 days. Company insiders own 52.75% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Institutional investors have recently made changes to their positions in the company. Covestor Ltd bought a new stake in shares of NerdWallet in the 4th quarter worth about $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after acquiring an additional 1,054 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of NerdWallet in the 1st quarter worth about $41,000. Polymer Capital Management US LLC bought a new stake in shares of NerdWallet in the 3rd quarter worth about $111,000. Finally, Moran Wealth Management LLC bought a new stake in shares of NerdWallet in the 4th quarter worth about $148,000. Institutional investors own 38.81% of the company’s stock.

About NerdWallet

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.