NerdWallet (NASDAQ:NRDS) Price Target Raised to $17.00

NerdWallet (NASDAQ:NRDS) had its price target upped by Barclays from $16.00 to $17.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Oppenheimer dropped their target price on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Trading Down 1.2 %

Shares of NRDS stock traded down $0.18 on Wednesday, hitting $14.51. The stock had a trading volume of 1,124,878 shares, compared to its average volume of 442,931. The company has a fifty day moving average price of $12.51 and a two-hundred day moving average price of $13.25. NerdWallet has a twelve month low of $10.10 and a twelve month high of $17.30. The firm has a market cap of $1.14 billion, a P/E ratio of -103.64 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business had revenue of $191.30 million during the quarter, compared to analysts’ expectations of $168.25 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis. On average, analysts expect that NerdWallet will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the transaction, the insider now directly owns 5,251,145 shares of the company’s stock, valued at approximately $59,600,495.75. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several large investors have recently added to or reduced their stakes in NRDS. Lord Abbett & CO. LLC lifted its position in NerdWallet by 108.4% during the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after purchasing an additional 481,958 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after acquiring an additional 432,262 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of NerdWallet by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after acquiring an additional 86,376 shares during the period. Legato Capital Management LLC bought a new stake in shares of NerdWallet in the 2nd quarter worth about $555,000. Finally, Cubist Systematic Strategies LLC grew its holdings in NerdWallet by 11.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,671 shares of the company’s stock valued at $229,000 after purchasing an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

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.