NerdWallet (NASDAQ:NRDS) Price Target Raised to $20.00

NerdWallet (NASDAQ:NRDS) had its price target increased by KeyCorp from $18.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on NRDS. Morgan Stanley lifted their price objective on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial lowered their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Oppenheimer lowered their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Barclays increased their price objective on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded down $0.18 during trading on Wednesday, hitting $14.51. 1,124,878 shares of the company were exchanged, compared to its average volume of 442,931. The company has a fifty day moving average price of $12.51 and a 200-day moving average price of $13.25. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30. The firm has a market capitalization of $1.14 billion, a PE ratio of -103.64 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $191.30 million for the quarter, compared to analyst estimates of $168.25 million. During the same period in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. Research analysts anticipate that NerdWallet will post -0.01 earnings per share for the current fiscal year.

Insider Activity at NerdWallet

In other NerdWallet news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the completion of the transaction, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Topline Capital Management, Ll acquired 49,722 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average price of $12.05 per share, with a total value of $599,150.10. Following the purchase, the insider now owns 4,839,090 shares of the company’s stock, valued at approximately $58,311,034.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the completion of the transaction, the vice president now owns 2,329,471 shares in the company, valued at $27,976,946.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by company insiders.

Institutional Trading of NerdWallet

Large investors have recently added to or reduced their stakes in the business. Steamboat Capital Partners LLC lifted its position in NerdWallet by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after acquiring an additional 4,030 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in NerdWallet by 108.4% in the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after acquiring an additional 481,958 shares during the period. Vanguard Group Inc. raised its stake in NerdWallet by 12.1% during the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after acquiring an additional 432,262 shares in the last quarter. SG Americas Securities LLC bought a new position in NerdWallet during the 2nd quarter valued at about $445,000. Finally, Bank of New York Mellon Corp grew its position 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 worth $1,794,000 after acquiring an additional 26,572 shares during the last quarter. 38.81% of the stock is owned by 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.