NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• NerdWallet has a consensus “Hold” rating from eight brokerages: four buys, three holds and one sell. The average 12-month price target is $12.83, though several analysts recently lowered their targets.
• Major shareholder Topline Capital Partners sold 454,872 shares for approximately $4.2 million, while insiders sold nearly 2 million shares worth $17.9 million over the past 90 days. Insiders still own 52.75% of the company.
• NerdWallet shares recently traded at $10.15, within a $7.33–$16.24 one-year range. Its latest quarterly revenue rose 5.6% year over year to $197.3 million, but earnings of $0.07 per share missed estimates by $0.02.

Shares of NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) have received a consensus rating of "Hold" from the eight brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.8333.

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of NerdWallet in a report on Tuesday, August 18th. KeyCorp cut their price target on NerdWallet from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Citigroup lowered their price objective on NerdWallet from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. Truist Financial dropped their target price on NerdWallet from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Finally, Zacks Research upgraded NerdWallet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd.

Insiders Place Their Bets

In other NerdWallet news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total value of $4,216,663.44. Following the completion of the transaction, the insider owned 3,289,285 shares in the company, valued at approximately $30,491,671.95. This represents a 12.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 1,961,860 shares of company stock valued at $17,862,921. Company insiders own 52.75% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company's stock worth $43,000 after buying an additional 1,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NerdWallet by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company's stock valued at $249,000 after purchasing an additional 1,934 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of NerdWallet by 12.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company's stock valued at $215,000 after purchasing an additional 2,161 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of NerdWallet by 1.3% in the 4th quarter. AQR Capital Management LLC now owns 184,082 shares of the company's stock worth $2,494,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of NerdWallet by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,545 shares of the company's stock worth $482,000 after purchasing an additional 2,447 shares during the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Price Performance

Shares of NRDS stock traded up $0.28 on Monday, hitting $10.15. 88,984 shares of the stock traded hands, compared to its average volume of 875,130. The company's fifty day moving average is $9.25 and its 200 day moving average is $9.64. NerdWallet has a 1-year low of $7.33 and a 1-year high of $16.24. The company has a market capitalization of $649.11 million, a PE ratio of 11.40 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. NerdWallet had a return on equity of 18.07% and a net margin of 7.56%.The business's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. As a group, equities research analysts expect that NerdWallet will post 0.88 EPS for the current year.

NerdWallet Company Profile

NerdWallet NASDAQ: NRDS is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.

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