Analysts Set NerdWallet, Inc. (NASDAQ:NRDS) Price Target at $17.00

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

NRDS has been the topic of a number of research analyst reports. KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 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 stock an "equal weight" rating in a research report on Wednesday, October 30th. Barclays lifted their price target on NerdWallet from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Truist Financial cut their price objective on NerdWallet from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer decreased their target price on NerdWallet from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st.

NerdWallet Stock Down 1.3 %

Shares of NerdWallet stock traded down $0.21 during trading hours on Friday, hitting $15.61. 526,353 shares of the company's stock traded hands, compared to its average volume of 993,312. NerdWallet has a twelve month low of $10.10 and a twelve month high of $17.30. The company has a market cap of $1.15 billion, a PE ratio of -111.49 and a beta of 1.39. The stock has a 50 day simple moving average of $12.80 and a 200-day simple moving average of $13.32.

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

Insider Activity at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the purchase, the insider now directly owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the purchase, the insider now directly owns 5,251,145 shares of the company's stock, valued at $59,600,495.75. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Samuel Yount sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now directly owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is owned by insiders.

Institutional Trading of NerdWallet

A number of hedge funds have recently bought and sold shares of NRDS. Lord Abbett & CO. LLC boosted its position in shares of NerdWallet by 108.4% in the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company's stock worth $13,621,000 after buying an additional 481,958 shares during the period. Vanguard Group Inc. grew 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 acquiring an additional 432,262 shares in the last quarter. SG Americas Securities LLC purchased a new position in NerdWallet during the 2nd quarter valued at about $445,000. Bank of New York Mellon Corp grew its stake in NerdWallet by 27.6% during the 2nd 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 in the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of NerdWallet in the 2nd quarter valued at about $555,000. 38.81% of the stock is 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.