NerdWallet (NASDAQ:NRDS) Price Target Cut to $17.00 by Analysts at Truist Financial

Key Points

• Analysts at Truist Financial have lowered their price target for NerdWallet from $19.00 to $17.00 while maintaining a "buy" rating, indicating a potential upside of 83.39% from its previous closing price.
• Other analysts have also adjusted their targets, with Citigroup reducing theirs to $11.00 and Barclays to $14.00; the current consensus rating for NerdWallet remains a "Moderate Buy" with an average target price of $13.60.
• NerdWallet recently reported revenue of $186.90 million for the quarter but fell short of analyst expectations, contributing to stock performance volatility amid broader market evaluations.

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price target decreased by stock analysts at Truist Financial from $19.00 to $17.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 83.39% from the company's previous close.

A number of other equities research analysts also recently commented on NRDS. Citigroup cut their target price on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Barclays cut their target price on NerdWallet from $17.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, KeyCorp reduced their price target 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.60.

NerdWallet Stock Performance

Shares of NerdWallet stock traded up $0.09 during trading on Monday, reaching $9.27. The company's stock had a trading volume of 366,624 shares, compared to its average volume of 521,553. The business's fifty day moving average price is $10.83 and its 200-day moving average price is $10.61. NerdWallet has a one year low of $7.55 and a one year high of $16.45. The firm has a market cap of $690.74 million, a price-to-earnings ratio of 14.95 and a beta of 1.45.

NerdWallet (NASDAQ:NRDS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $186.90 million for the quarter, compared to analyst estimates of $195.32 million. NerdWallet had a return on equity of 2.61% and a net margin of 6.11%. The company's revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) EPS. Sell-side analysts anticipate that NerdWallet will post 0.36 EPS for the current year.

Institutional Trading of NerdWallet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RHS Financial LLC purchased a new position in shares of NerdWallet in the first quarter worth $100,000. EntryPoint Capital LLC purchased a new stake in NerdWallet during the 1st quarter worth approximately $114,000. Magnetar Financial LLC purchased a new stake in shares of NerdWallet in the 1st quarter valued at approximately $130,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NerdWallet by 57.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,769 shares of the company's stock valued at $134,000 after buying an additional 5,389 shares during the period. Finally, Corton Capital Inc. purchased a new stake in shares of NerdWallet during the 1st quarter worth approximately $137,000. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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.

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