NerdWallet (NASDAQ:NRDS) Stock Price Down 5.9% After Analyst Downgrade

Shares of NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) fell 5.9% 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 changed hands during mid-day 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 have also recently issued reports about the stock. Citigroup decreased their price target 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. Morgan Stanley cut their target price 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. Finally, Barclays upped their price target on NerdWallet from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Topline Capital Management LLC purchased a new position in shares of NerdWallet in the 4th quarter worth approximately $69,840,000. Quinn Opportunity Partners LLC boosted its holdings in NerdWallet by 3,324.4% in the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company's stock worth $11,887,000 after buying an additional 867,681 shares during the period. Alta Fox Capital Management LLC bought a new position in shares of NerdWallet in the fourth quarter worth $10,761,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company's stock valued at $12,083,000 after buying an additional 555,329 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in NerdWallet by 325.8% during the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company's stock worth $9,312,000 after acquiring an additional 535,701 shares during the period. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

The firm has a market capitalization of $634.74 million, a PE ratio of 21.37 and a beta of 1.41. The company's 50 day simple moving average is $8.98 and its 200-day simple moving average is $12.03.

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

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