NerdWallet (NASDAQ:NRDS) Price Target Raised to $20.00 at KeyCorp

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price objective lifted by KeyCorp from $18.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price target indicates a potential upside of 30.29% from the company's previous close.

Several other analysts have also issued reports on the stock. Morgan Stanley upped their price target on shares of NerdWallet from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Wednesday. Truist Financial cut their price target on shares of NerdWallet from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Oppenheimer cut their price target on shares of NerdWallet from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Finally, Barclays upped their price target on shares of NerdWallet from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

NerdWallet Stock Performance

NRDS traded up $4.03 during trading on Wednesday, reaching $15.35. The stock had a trading volume of 4,188,938 shares, compared to its average volume of 427,496. The stock has a market cap of $1.21 billion, a PE ratio of -101.79 and a beta of 1.42. NerdWallet has a one year low of $10.10 and a one year high of $17.30. The business has a 50-day moving average of $12.35 and a 200-day moving average of $13.22.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The business had revenue of $150.60 million for the quarter, compared to analysts' expectations of $149.93 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that NerdWallet will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average cost of $11.35 per share, with a total value of $4,676,824.25. Following the transaction, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other NerdWallet news, insider Topline Capital Management, Ll bought 49,722 shares of the stock in a transaction dated Monday, October 21st. The stock was purchased at an average cost of $12.05 per share, for a total transaction of $599,150.10. Following the completion of the acquisition, the insider now owns 4,839,090 shares of the company's stock, valued at approximately $58,311,034.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, with a total value of $4,676,824.25. Following the completion of the acquisition, the insider now directly owns 5,251,145 shares of the company's stock, valued at approximately $59,600,495.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 45.93% of the company's stock.

Hedge Funds Weigh In On NerdWallet

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in NerdWallet by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company's stock valued at $58,880,000 after buying an additional 432,262 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of NerdWallet by 108.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company's stock valued at $13,621,000 after acquiring an additional 481,958 shares during the period. Dimensional Fund Advisors LP grew its position in shares of NerdWallet by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company's stock valued at $11,239,000 after acquiring an additional 86,376 shares during the period. Renaissance Technologies LLC grew its position in shares of NerdWallet by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 251,000 shares of the company's stock valued at $3,665,000 after acquiring an additional 39,800 shares during the period. Finally, Steamboat Capital Partners LLC grew its position in shares of NerdWallet by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company's stock valued at $3,558,000 after acquiring an additional 4,030 shares during the period. 38.81% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.