NerdWallet (NASDAQ:NRDS) Given New $14.00 Price Target at Barclays

Key Points

• Barclays has reduced its price target for NerdWallet (NASDAQ:NRDS) from $17.00 to $14.00, while maintaining an "overweight" rating on the stock.
• NerdWallet's shares declined by 19.0%, trading down to $8.97, and the company's market cap currently stands at $668.61 million.
• Analysts predict NerdWallet to report 0.36 earnings per share for the current fiscal year, despite a net margin of only 4.01% from its recent quarterly earnings.

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price objective lowered by equities researchers at Barclays from $17.00 to $14.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 52.51% from the stock's current price.

Several other analysts also recently weighed in on the stock. KeyCorp cut their price objective on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Citigroup cut their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th.

NerdWallet Stock Performance

Shares of NASDAQ NRDS traded down $1.90 during midday trading on Friday, hitting $9.18. The company's stock had a trading volume of 2,327,501 shares, compared to its average volume of 438,997. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.45. The firm's fifty day moving average price is $10.83 and its 200-day moving average price is $10.63. The firm has a market cap of $684.00 million, a P/E ratio of 14.81 and a beta of 1.45.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $186.90 million for the quarter, compared to analysts' expectations of $195.32 million. NerdWallet had a net margin of 6.11% and a return on equity of 2.61%. The company's revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. As a group, research analysts predict that NerdWallet will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of NRDS. American Century Companies Inc. raised its position in shares of NerdWallet by 8.0% during the 4th quarter. American Century Companies Inc. now owns 21,237 shares of the company's stock worth $282,000 after buying an additional 1,576 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of NerdWallet during the 4th quarter worth about $80,000. JPMorgan Chase & Co. raised its position in shares of NerdWallet by 556.8% during the 4th quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company's stock worth $3,206,000 after buying an additional 204,326 shares in the last quarter. Norges Bank bought a new stake in shares of NerdWallet during the 4th quarter worth about $3,785,000. Finally, Alliancebernstein L.P. raised its position in shares of NerdWallet by 13.3% during the 4th quarter. Alliancebernstein L.P. now owns 24,600 shares of the company's stock worth $327,000 after buying an additional 2,880 shares in the last quarter. 38.81% of the stock is currently 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.