Morgan Stanley Issues Pessimistic Forecast for NerdWallet (NASDAQ:NRDS) Stock Price

NerdWallet (NASDAQ:NRDS) had its price objective lowered by Morgan Stanley from $15.00 to $12.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.17% from the company’s previous close.

A number of other equities analysts have also recently weighed in on NRDS. KeyCorp upped their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Trading Down 9.2 %

NASDAQ:NRDS opened at $10.33 on Monday. The stock’s 50 day simple moving average is $13.74 and its 200-day simple moving average is $13.25. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30. The firm has a market cap of $758.64 million, a P/E ratio of 25.83 and a beta of 1.33.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The firm had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. Research analysts forecast that NerdWallet will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other NerdWallet news, insider Samuel Yount sold 440,336 shares of NerdWallet 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 completion of the transaction, the insider now owns 254,237 shares in the company, valued at approximately $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lauren Stclair sold 11,856 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.04, for a total transaction of $166,458.24. Following the completion of the sale, the chief financial officer now directly owns 313,100 shares in the company, valued at $4,395,924. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 822,353 shares of company stock worth $11,051,439 in the last three months. Corporate insiders own 45.93% of the company’s stock.

Institutional Investors Weigh In On NerdWallet

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of NerdWallet by 1.5% in the fourth quarter. Rhumbline Advisers now owns 51,536 shares of the company’s stock valued at $685,000 after acquiring an additional 769 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in NerdWallet by 5.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,785 shares of the company’s stock valued at $277,000 after purchasing an additional 1,190 shares during the last quarter. American Century Companies Inc. lifted its holdings in NerdWallet by 8.0% in the 4th quarter. American Century Companies Inc. now owns 21,237 shares of the company’s stock valued at $282,000 after purchasing an additional 1,576 shares in the last quarter. Swiss National Bank boosted its stake in shares of NerdWallet by 2.1% during the 4th quarter. Swiss National Bank now owns 78,600 shares of the company’s stock worth $1,045,000 after purchasing an additional 1,600 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of NerdWallet by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 16,232 shares of the company’s stock worth $216,000 after purchasing an additional 2,364 shares during the last quarter. Institutional investors and hedge funds 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.