NerdWallet (NASDAQ:NRDS) Hits New 1-Year Low - What's Next?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $8.58 and last traded at $8.63, with a volume of 156352 shares traded. The stock had previously closed at $9.49.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley cut their price objective on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Barclays raised their target price on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NerdWallet presently has an average rating of "Moderate Buy" and an average price target of $17.00.

NerdWallet Stock Down 2.6 %

The firm has a market capitalization of $578.04 million, a P/E ratio of 19.50 and a beta of 1.41. The company has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $12.60.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. As a group, equities analysts expect that NerdWallet, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of NerdWallet

A number of hedge funds and other institutional investors have recently modified their holdings of NRDS. KLP Kapitalforvaltning AS bought a new position in NerdWallet in the 4th quarter worth approximately $80,000. US Bancorp DE boosted its position in shares of NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after acquiring an additional 2,800 shares during the last quarter. AXQ Capital LP purchased a new position in NerdWallet during the fourth quarter valued at $138,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in NerdWallet by 3,417.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company's stock worth $140,000 after purchasing an additional 10,218 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of NerdWallet during the 4th quarter valued at about $160,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.