NerdWallet (NASDAQ:NRDS) Stock Rating Lowered by Oppenheimer

Key Points

• Oppenheimer downgraded NerdWallet from “outperform” to “market perform.” Analysts overall have a “Hold” consensus rating and an average price target of $10.90.
• NerdWallet’s latest quarterly results missed expectations: EPS was $0.23 versus the $0.34 consensus, and revenue was $239.6 million versus $251.86 million expected, despite year-over-year revenue growth of 11.4%.
• Shares rose 3.1% on Friday to $7.54, near the stock’s 52-week low of $7.25.

NerdWallet (NASDAQ:NRDS - Get Free Report) was downgraded by Oppenheimer from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Friday, Briefing.com reports.

A number of other research analysts have also commented on NRDS. Truist Financial decreased their price target on shares of NerdWallet from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, November 6th. Citigroup cut their price objective on shares of NerdWallet from $11.00 to $8.50 and set a "neutral" rating for the company in a research report on Tuesday. William Blair cut NerdWallet from an "outperform" rating to a "market perform" rating in a report on Friday, November 6th. Finally, Weiss Ratings raised NerdWallet from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NerdWallet currently has an average rating of "Hold" and a consensus target price of $10.90.

NerdWallet Trading Up 3.1%

Shares of NerdWallet stock traded up $0.23 during trading on Friday, hitting $7.54. 448,628 shares of the stock were exchanged, compared to its average volume of 864,478. The company has a fifty day moving average price of $9.52 and a 200-day moving average price of $9.69. The stock has a market capitalization of $481.96 million, a price-to-earnings ratio of 9.69 and a beta of 1.20. NerdWallet has a 1-year low of $7.25 and a 1-year high of $16.24.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). NerdWallet had a net margin of 6.06% and a return on equity of 15.56%. The business had revenue of $239.60 million during the quarter, compared to analyst estimates of $251.86 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business's quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that NerdWallet will post 0.74 EPS for the current fiscal year.

Institutional Trading of NerdWallet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company's stock valued at $18,777,000 after buying an additional 444,038 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of NerdWallet during the 1st quarter worth approximately $2,903,000. Renaissance Technologies LLC raised its position in NerdWallet by 25.4% during the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company's stock valued at $10,404,000 after purchasing an additional 202,838 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company's stock worth $13,730,000 after purchasing an additional 153,790 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of NerdWallet in the 2nd quarter valued at $1,016,000. Institutional investors and hedge funds own 38.81% of the company's stock.

About NerdWallet

NerdWallet, Inc. is a personal finance company that operates a digital platform to help consumers make financial decisions. Its website and mobile app provide educational content, comparison tools and recommendations across products such as credit cards, banking, mortgages, personal loans, insurance and investing services. The company was founded in 2009 by Tim Chen and offers services primarily in the United States, as well as in Canada and the United Kingdom. NerdWallet also serves small and midsize businesses with financial information and product recommendations.

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