Barclays Forecasts Strong Price Appreciation for NerdWallet (NASDAQ:NRDS) Stock

NerdWallet (NASDAQ:NRDS) had its price target increased by investment analysts at Barclays from $17.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 83.93% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley lifted their price target on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. KeyCorp lifted their price objective on NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.60.

NerdWallet Stock Down 9.2 %

Shares of NerdWallet stock opened at $10.33 on Thursday. NerdWallet has a twelve month low of $10.10 and a twelve month high of $17.30. The business has a 50-day moving average price of $13.74 and a 200 day moving average price of $13.21. The firm has a market cap of $758.62 million, a PE ratio of 25.83 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The firm had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. On average, sell-side analysts expect that NerdWallet will post 0.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Samuel Yount sold 440,336 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the transaction, the insider now directly owns 254,237 shares in the company, valued at $3,429,657.13. The trade was a 63.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Lauren Stclair sold 11,856 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.04, for a total value of $166,458.24. Following the transaction, the chief financial officer now owns 313,100 shares in the company, valued at approximately $4,395,924. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 822,353 shares of company stock worth $11,051,439. Insiders own 45.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new position in shares of NerdWallet during the 3rd quarter worth approximately $516,000. Point72 Asset Management L.P. acquired a new position in shares of NerdWallet during the 3rd quarter worth approximately $890,000. Barclays PLC lifted its holdings in NerdWallet by 374.6% in the third quarter. Barclays PLC now owns 65,277 shares of the company’s stock valued at $830,000 after acquiring an additional 51,524 shares during the last quarter. State Street Corp lifted its holdings in NerdWallet by 3.7% in the third quarter. State Street Corp now owns 799,521 shares of the company’s stock valued at $10,162,000 after acquiring an additional 28,785 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in NerdWallet by 2.1% in the third quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock valued at $11,751,000 after acquiring an additional 19,330 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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.