NerdWallet (NASDAQ:NRDS) Shares Up 5.1% - Here's Why

Key Points

• NerdWallet shares rose 5.1% to about $9.55 in Thursday trading, although volume was 52% below the stock’s average session volume.
• Analysts have a consensus “Hold” rating and a $12.83 price target, based on four Buy, three Hold and one Sell rating.
• The company’s latest quarter showed 5.6% year-over-year revenue growth to $197.3 million, but earnings per share of $0.07 missed estimates by $0.02. Institutional investors own 38.81% of the stock.

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report)'s share price rose 5.1% during trading on Thursday. The company traded as high as $9.53 and last traded at $9.5540. 402,288 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 846,752 shares. The stock had previously closed at $9.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of NerdWallet in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.83.

NerdWallet Price Performance

The company has a market cap of $611.39 million, a price-to-earnings ratio of 10.76 and a beta of 1.25. The firm has a fifty day simple moving average of $9.37 and a 200 day simple moving average of $9.38.

NerdWallet (NASDAQ:NRDS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The firm had revenue of $197.30 million for the quarter, compared to analyst estimates of $195.30 million. NerdWallet had a return on equity of 18.07% and a net margin of 7.56%.The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. Analysts expect that NerdWallet, Inc. will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its position in NerdWallet by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company's stock valued at $18,777,000 after purchasing an additional 444,038 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of NerdWallet by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company's stock worth $13,730,000 after purchasing an additional 153,790 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of NerdWallet by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company's stock valued at $10,404,000 after acquiring an additional 202,838 shares in the last quarter. OP Asset Management Ltd bought a new stake in shares of NerdWallet during the 1st quarter worth approximately $6,957,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of NerdWallet in the 1st quarter valued at approximately $2,903,000. Institutional investors own 38.81% of the company's stock.

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that helps consumers make informed decisions about financial products and services. Its platform combines financial education, research, comparison tools and a marketplace that connects users with providers.

The company covers a range of personal finance categories, including credit cards, banking, personal and student loans, mortgages, insurance, investing and financial planning. NerdWallet also provides resources for small-business owners and publishes editorial content, reviews and calculators designed to help users evaluate their options.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco, California.

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.