Brokerages Set NerdWallet, Inc. (NASDAQ:NRDS) Price Target at $17.00

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $17.00.

A number of brokerages have recently issued reports on NRDS. Barclays boosted their price objective on shares of NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. KeyCorp boosted their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

Insider Transactions at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the firm’s 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 purchase, the insider now directly owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 8.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel Yount sold 440,336 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total transaction of $5,940,132.64. Following the transaction, the insider now directly owns 254,237 shares of the company’s stock, valued at $3,429,657.13. This trade represents a 63.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 822,353 shares of company stock valued at $11,051,439 over the last 90 days. Company insiders own 45.93% of the company’s stock.

Institutional Trading of NerdWallet

A number of large investors have recently added to or reduced their stakes in NRDS. Los Angeles Capital Management LLC boosted its position in shares of NerdWallet by 5.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after acquiring an additional 1,190 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in NerdWallet by 11.1% during the second 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 in the last quarter. Marshall Wace LLP lifted its position in NerdWallet by 2.0% during the second quarter. Marshall Wace LLP now owns 105,802 shares of the company’s stock valued at $1,545,000 after purchasing an additional 2,070 shares during the last quarter. Quarry LP purchased a new position in shares of NerdWallet in the 2nd quarter worth $31,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of NerdWallet by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,999 shares of the company’s stock worth $219,000 after buying an additional 2,172 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $13.50 on Friday. The stock’s 50-day simple moving average is $13.82 and its two-hundred day simple moving average is $13.35. The stock has a market capitalization of $991.43 million, a price-to-earnings ratio of -96.42 and a beta of 1.31. NerdWallet has a 52-week low of $10.10 and a 52-week high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $168.25 million. NerdWallet had a negative net margin of 1.65% and a negative return on equity of 2.90%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, equities analysts forecast that NerdWallet will post -0.11 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.