NerdWallet (NASDAQ:NRDS) Shares Up 4.8% - Still a Buy?

Key Points

• NerdWallet shares rose 4.8% to $9.31, while the company has a market capitalization of about $612.6 million and trades near its 50-day moving average.
• Analyst sentiment is mixed: four analysts rate the stock Buy, three Hold and one Sell, resulting in a consensus Hold rating and a $12.83 price target. Oppenheimer and Truist both cut their targets while maintaining positive ratings.
• NerdWallet exceeded quarterly EPS expectations, reporting $0.29 versus $0.25, but revenue of $222.2 million fell short of estimates. Insiders have sold nearly 2 million shares over the past 90 days, including a 454,872-share sale by Topline Capital Partners.

Shares of NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shot up 4.8% during trading on Monday . The stock traded as high as $9.39 and last traded at $9.31. Approximately 455,438 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 578,049 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their price target on shares of NerdWallet from $15.00 to $12.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. Zacks Research raised shares of NerdWallet from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of NerdWallet from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 21st. Truist Financial lowered their target price on shares of NerdWallet from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of NerdWallet from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NerdWallet has a consensus rating of "Hold" and a consensus price target of $12.83.

NerdWallet Stock Performance

The firm has a market cap of $612.60 million, a P/E ratio of 10.01 and a beta of 1.23. The company has a 50-day moving average of $8.77 and a 200 day moving average of $10.08.

NerdWallet (NASDAQ:NRDS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The firm had revenue of $222.20 million for the quarter, compared to analysts' expectations of $227.63 million. NerdWallet's revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that NerdWallet, Inc. will post 0.85 EPS for the current fiscal year.

Insider Activity at NerdWallet

In other 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 sale, the insider owned 3,289,285 shares of the company's stock, 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 through the SEC website. In the last 90 days, insiders have sold 1,961,860 shares of company stock valued at $17,862,921. 52.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NerdWallet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OP Asset Management Ltd bought a new position in NerdWallet in the 1st quarter valued at $6,957,000. Millennium Management LLC grew its holdings in shares of NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company's stock worth $7,296,000 after purchasing an additional 497,978 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of NerdWallet by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company's stock valued at $18,777,000 after buying an additional 444,038 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of NerdWallet in the first quarter valued at $2,903,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of NerdWallet in the third quarter valued at about $2,812,000. 38.81% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.