NerdWallet, Inc. (NASDAQ:NRDS) Receives $17.00 Average Price Target from Analysts

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

NRDS has been the topic of several analyst reports. Barclays increased their target price on NerdWallet from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Morgan Stanley increased 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, October 30th. Finally, KeyCorp boosted their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th.

NerdWallet Trading Down 0.9 %

Shares of NRDS traded down $0.12 during trading hours on Wednesday, hitting $13.98. 153,064 shares of the stock traded hands, compared to its average volume of 457,757. The business has a fifty day moving average of $13.29 and a 200-day moving average of $13.38. The firm has a market capitalization of $1.03 billion, a PE ratio of -100.71 and a beta of 1.31. NerdWallet has a 1-year low of $10.10 and a 1-year high of $17.30.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The company had revenue of $191.30 million for the quarter, compared to the consensus estimate of $168.25 million. During the same period in the prior year, the company posted ($0.01) EPS. The company's revenue was up 25.2% compared to the same quarter last year. As a group, equities research analysts expect that NerdWallet will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at NerdWallet

In other news, insider Topline Capital Management, Ll bought 49,722 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average price of $12.05 per share, with a total value of $599,150.10. Following the transaction, the insider now owns 4,839,090 shares in the company, valued at $58,311,034.50. This represents a 1.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the purchase, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This represents a 8.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 45.93% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NRDS. Vanguard Group Inc. boosted its position in NerdWallet by 12.1% during the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company's stock valued at $58,880,000 after purchasing an additional 432,262 shares during the last quarter. SG Americas Securities LLC acquired a new position in NerdWallet during the second quarter worth $445,000. Bank of New York Mellon Corp lifted its stake in NerdWallet by 27.6% in the second quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company's stock valued at $1,794,000 after acquiring an additional 26,572 shares during the last quarter. Legato Capital Management LLC bought a new position in shares of NerdWallet in the 2nd quarter valued at about $555,000. Finally, Natixis Advisors LLC bought a new position in NerdWallet during the second quarter worth about $250,000. Institutional investors own 38.81% of the company's stock.

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.