NerdWallet (NASDAQ:NRDS) Shares Gap Up - Here's What Happened

Key Points

• NerdWallet shares jumped 10.4%, opening at $9.74 versus a prior close of $8.84 and later trading near $9.54.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a $12.83 price target, though several firms lowered their targets while maintaining Buy, Outperform, or Overweight ratings.
• NerdWallet’s latest quarter showed revenue of $197.3 million, ahead of estimates and up 5.6% year over year, but adjusted earnings of $0.07 per share missed expectations. Insiders have also sold nearly 2 million shares over the past 90 days.

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.84, but opened at $9.74. NerdWallet shares last traded at $9.5350, with a volume of 153,787 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on NRDS shares. Truist Financial cut their price target on NerdWallet from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Zacks Research upgraded NerdWallet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded NerdWallet from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Oppenheimer cut their target price on NerdWallet from $15.00 to $12.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Finally, KeyCorp reduced their target price on NerdWallet from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $12.83.

NerdWallet Trading Up 10.4%

The company has a market cap of $641.88 million, a P/E ratio of 10.46 and a beta of 1.23. The company's 50-day moving average price is $8.91 and its two-hundred day moving average price is $9.85.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $197.30 million for the quarter, compared to the consensus estimate of $195.30 million. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The business's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. As a group, analysts anticipate that NerdWallet, Inc. will post 0.85 earnings per share for the current year.

Insider Buying and Selling

In other NerdWallet news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the transaction, the insider owned 4,331,992 shares of the company's stock, valued at $38,771,328.40. This trade represents a 17.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 1,961,860 shares of company stock worth $17,862,921. Company insiders own 52.75% of the company's stock.

Institutional Investors Weigh In On NerdWallet

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

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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