NerdWallet (NASDAQ:NRDS) Issues Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) issued its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, Briefing.com reports. The company had revenue of $161.90 million during the quarter, compared to analyst estimates of $156.95 million. NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.39%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Down 4.7 %

Shares of NRDS opened at $12.89 on Friday. NerdWallet has a 52-week low of $6.38 and a 52-week high of $17.30. The firm’s fifty day moving average is $15.01 and its two-hundred day moving average is $13.55.

Insiders Place Their Bets

In other news, VP Samuel Yount sold 6,309 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the transaction, the vice president now owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 45.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NRDS has been the subject of several recent analyst reports. Truist Financial cut their price target on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Citigroup boosted their price target on shares of NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Barclays boosted their price target on shares of NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, KeyCorp lifted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NerdWallet currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.