NerdWallet (NASDAQ:NRDS) Price Target Cut to $8.50 by Analysts at Citigroup

Key Points

• Citigroup cut its NerdWallet price target to $8.50 from $11.00 and maintained a neutral rating, implying about 13.9% upside from the share price cited in the report.
• Analyst sentiment is mixed but leans toward Hold: NerdWallet has a consensus rating of Hold and an average price target of $10.90; William Blair also downgraded the stock, while Truist lowered its target but kept a Buy rating.
• NerdWallet shares fell 4.5% to $7.46 on Tuesday. Its latest reported quarter missed analyst expectations for both earnings and revenue, although revenue grew 11.4% year over year.

NerdWallet (NASDAQ:NRDS - Get Free Report) had its target price lowered by equities research analysts at Citigroup from $11.00 to $8.50 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price would suggest a potential upside of 13.86% from the company's current price.

NRDS has been the topic of a number of other research reports. William Blair downgraded NerdWallet from an "outperform" rating to a "market perform" rating in a report on Friday. Weiss Ratings raised NerdWallet from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 15th. Finally, Truist Financial decreased their target price on NerdWallet from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NerdWallet currently has a consensus rating of "Hold" and a consensus price target of $10.90.

NerdWallet Trading Down 4.5%

Shares of NRDS stock traded down $0.35 on Tuesday, reaching $7.46. 826,058 shares of the stock were exchanged, compared to its average volume of 859,711. The business's 50 day moving average price is $9.66 and its 200 day moving average price is $9.78. The company has a market capitalization of $477.16 million, a price-to-earnings ratio of 9.58 and a beta of 1.20. NerdWallet has a twelve month low of $7.33 and a twelve month high of $16.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). The business had revenue of $239.60 million during the quarter, compared to analyst estimates of $251.86 million. NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Equities research analysts forecast that NerdWallet will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in NerdWallet by 97.0% in the third quarter. Russell Investments Group Ltd. now owns 176,576 shares of the company's stock valued at $1,550,000 after acquiring an additional 86,927 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of NerdWallet during the third quarter worth about $378,000. Alps Advisors Inc. purchased a new position in shares of NerdWallet during the third quarter worth about $536,000. State of Wyoming grew its holdings in shares of NerdWallet by 10.3% during the third quarter. State of Wyoming now owns 29,785 shares of the company's stock worth $262,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of NerdWallet during the third quarter worth about $638,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

About NerdWallet

NerdWallet, Inc. is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products. The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.

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