NerdWallet (NASDAQ:NRDS) Stock Price Up 5% - Time to Buy?

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) shares rose 5% on Friday . The company traded as high as $11.25 and last traded at $11.28. Approximately 261,628 shares were traded during trading, a decline of 53% from the average daily volume of 556,835 shares. The stock had previously closed at $10.74.

Analyst Ratings Changes

NRDS has been the topic of a number of research reports. KeyCorp cut their target price on shares of NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Morgan Stanley dropped their price objective on shares of NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Barclays boosted their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Citigroup dropped their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.00.

NerdWallet Price Performance

The stock's 50-day moving average is $9.94 and its two-hundred day moving average is $11.46. The stock has a market cap of $816.66 million, a P/E ratio of 27.40 and a beta of 1.46.

Hedge Funds Weigh In On NerdWallet

A number of institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC bought a new position in shares of NerdWallet during the fourth quarter valued at approximately $69,840,000. Quinn Opportunity Partners LLC boosted its stake in shares of NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock valued at $11,887,000 after purchasing an additional 867,681 shares in the last quarter. Alta Fox Capital Management LLC bought a new position in shares of NerdWallet during the fourth quarter valued at approximately $10,761,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NerdWallet by 157.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after purchasing an additional 555,329 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of NerdWallet by 325.8% during the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company's stock valued at $9,312,000 after purchasing an additional 535,701 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.