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Citigroup Cuts NerdWallet (NASDAQ:NRDS) Price Target to $11.00

NerdWallet logo with Finance background

NerdWallet (NASDAQ:NRDS - Free Report) had its target price reduced by Citigroup from $14.00 to $11.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also commented on NRDS. Barclays raised their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley cut their price target on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, NerdWallet currently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

View Our Latest Report on NerdWallet

NerdWallet Stock Up 0.6 %

NRDS traded up $0.05 on Tuesday, hitting $9.08. The company's stock had a trading volume of 317,800 shares, compared to its average volume of 530,996. The company's 50 day simple moving average is $8.98 and its 200-day simple moving average is $12.03. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.45. The firm has a market cap of $672.90 million, a P/E ratio of 22.70 and a beta of 1.41.

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

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new position in NerdWallet in the fourth quarter worth $80,000. RHS Financial LLC bought a new stake in NerdWallet during the first quarter worth about $100,000. US Bancorp DE boosted its holdings in shares of NerdWallet by 41.2% in the 4th quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after purchasing an additional 2,800 shares in the last quarter. AXQ Capital LP bought a new position in shares of NerdWallet during the 4th quarter valued at about $138,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company's stock valued at $140,000 after buying an additional 10,218 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company's stock.

NerdWallet Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NerdWallet (NASDAQ:NRDS)

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