NerdWallet (NASDAQ:NRDS) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of NerdWallet (NASDAQ:NRDS) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Oppenheimer reduced their price target on NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NerdWallet has an average rating of “Hold” and a consensus price target of $14.33.

NerdWallet Stock Performance

NASDAQ:NRDS opened at $10.40 on Friday. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The firm has a market cap of $694.62 million, a PE ratio of 16.25 and a beta of 1.42. The business has a 50 day moving average price of $10.58 and a 200-day moving average price of $12.10.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. Research analysts predict that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares in the company, valued at approximately $540,462.90. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the sale, the insider directly owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This represents a 29.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,043 shares of company stock valued at $901,317 over the last 90 days. Company insiders own 46.54% of the company’s stock.

Institutional Trading of NerdWallet

Several institutional investors and hedge funds have recently bought and sold shares of NRDS. Millennium Management LLC boosted its position in NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after acquiring an additional 497,978 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of NerdWallet in the 3rd quarter worth approximately $2,812,000. Nuveen LLC lifted its stake in shares of NerdWallet by 296.1% in the 4th quarter. Nuveen LLC now owns 330,631 shares of the company’s stock valued at $4,480,000 after purchasing an additional 247,157 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of NerdWallet by 26.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock valued at $12,200,000 after purchasing an additional 234,691 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of NerdWallet by 52.2% during the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after purchasing an additional 167,954 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.