NerdWallet (NASDAQ:NRDS) Price Target Cut to $11.00 by Analysts at Citigroup

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price target cut by equities researchers at Citigroup from $14.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price target would suggest a potential upside of 21.35% from the stock's current price.

NRDS has been the subject of a number of other reports. Morgan Stanley decreased their price target on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Barclays boosted their target price on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

NerdWallet Stock Down 0.4 %

NRDS traded down $0.04 during trading on Tuesday, hitting $9.07. The company had a trading volume of 64,459 shares, compared to its average volume of 532,489. The company has a market capitalization of $671.79 million, a PE ratio of 22.65 and a beta of 1.41. NerdWallet has a one year low of $7.55 and a one year high of $16.45. The firm's 50-day moving average price is $9.21 and its 200 day moving average price is $12.14.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. Sell-side analysts forecast that NerdWallet will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in NerdWallet by 556.8% in the 4th quarter. JPMorgan Chase & Co. now owns 241,020 shares of the company's stock valued at $3,206,000 after buying an additional 204,326 shares in the last quarter. Jump Financial LLC acquired a new position in NerdWallet in the 4th quarter valued at $799,000. Versor Investments LP acquired a new position in NerdWallet in the 4th quarter valued at $669,000. Quinn Opportunity Partners LLC grew its holdings in NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock valued at $11,887,000 after buying an additional 867,681 shares in the last quarter. Finally, US Bancorp DE grew its holdings in NerdWallet by 41.2% in the 4th quarter. US Bancorp DE now owns 9,592 shares of the company's stock valued at $128,000 after buying an additional 2,800 shares in the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

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.

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