NerdWallet (NASDAQ:NRDS) Shares Gap Down - Here's What Happened

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.33, but opened at $9.00. NerdWallet shares last traded at $9.29, with a volume of 104,131 shares traded.

Wall Street Analyst Weigh In

NRDS has been the subject of a number of analyst reports. Morgan Stanley cut their price target on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Barclays upped their price target on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $17.00.

NerdWallet Stock Performance

The stock has a market cap of $585.08 million, a PE ratio of 19.73 and a beta of 1.41. The business has a 50 day moving average price of $11.16 and a two-hundred day moving average price of $12.63.

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

Hedge Funds Weigh In On NerdWallet

A number of large investors have recently made changes to their positions in NRDS. Rhumbline Advisers lifted its stake in NerdWallet by 1.5% in the 4th quarter. Rhumbline Advisers now owns 51,536 shares of the company's stock worth $685,000 after purchasing an additional 769 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of NerdWallet by 8.0% during the fourth quarter. American Century Companies Inc. now owns 21,237 shares of the company's stock worth $282,000 after purchasing an additional 1,576 shares in the last quarter. Swiss National Bank increased its position in shares of NerdWallet by 2.1% in the fourth quarter. Swiss National Bank now owns 78,600 shares of the company's stock worth $1,045,000 after purchasing an additional 1,600 shares during the last quarter. SG Americas Securities LLC raised its stake in NerdWallet by 17.0% in the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock valued at $216,000 after purchasing an additional 2,364 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in NerdWallet by 12.4% during the fourth quarter. MetLife Investment Management LLC now owns 24,537 shares of the company's stock valued at $326,000 after purchasing an additional 2,705 shares during the last quarter. 38.81% of the stock is owned by 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.