NerdWallet (NASDAQ:NRDS) Shares Down 5.9% on Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s stock price fell 5.9% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $18.00 to $14.00. KeyCorp currently has an overweight rating on the stock. NerdWallet traded as low as $8.53 and last traded at $8.54. 212,510 shares were traded during trading, a decline of 62% from the average session volume of 557,157 shares. The stock had previously closed at $9.08.

Other equities analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Morgan Stanley dropped their price objective 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. Finally, Citigroup reduced their target price on NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a report 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, NerdWallet has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new position in shares of NerdWallet during the 4th quarter worth about $80,000. RHS Financial LLC purchased a new stake in NerdWallet in the 1st quarter valued at about $100,000. US Bancorp DE increased its position in shares of NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after acquiring an additional 2,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NerdWallet by 57.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,769 shares of the company's stock valued at $134,000 after acquiring an additional 5,389 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in shares of NerdWallet in the first quarter valued at approximately $137,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Price Performance

The firm has a 50 day moving average of $8.97 and a 200-day moving average of $11.97. The company has a market cap of $821.86 million, a P/E ratio of 27.73 and a beta of 1.41.

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

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.