NerdWallet (NASDAQ:NRDS) Announces Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, Briefing.com reports. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The business had revenue of $161.90 million during the quarter, compared to analyst estimates of $156.95 million. During the same period last year, the firm posted $0.02 EPS. The company's revenue was down 4.5% on a year-over-year basis. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Price Performance

Shares of NASDAQ NRDS traded down $0.63 during midday trading on Friday, reaching $12.89. 886,064 shares of the stock traded hands, compared to its average volume of 343,063. The stock has a market capitalization of $992.66 million, a PE ratio of -81.74 and a beta of 1.39. NerdWallet has a one year low of $6.38 and a one year high of $17.30. The company's 50 day moving average is $15.09 and its 200 day moving average is $13.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. KeyCorp increased their price objective on shares of NerdWallet from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Citigroup increased their price objective on shares of NerdWallet from $11.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, January 12th. Truist Financial cut their price objective on shares of NerdWallet from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, February 15th. Finally, Barclays increased their target price on NerdWallet from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, NerdWallet currently has a consensus rating of "Moderate Buy" and an average target price of $16.50.

Insider Activity

In related news, VP Samuel Yount sold 6,309 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the completion of the sale, the vice president now directly owns 2,350,242 shares in the company, valued at $37,979,910.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 45.93% of the company's stock.

NerdWallet Company Profile

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.