NerdWallet (NASDAQ:NRDS – Free Report) had its price objective reduced by Truist Financial from $15.00 to $12.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.
Several other research analysts have also recently issued reports on NRDS. William Blair cut NerdWallet from an “outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings raised NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NerdWallet presently has an average rating of “Hold” and an average target price of $11.40.
Check Out Our Latest Report on NerdWallet
NerdWallet Trading Down 31.0%
Shares of NRDS stock traded down $3.54 on Friday, reaching $7.89. The company’s stock had a trading volume of 3,076,822 shares, compared to its average volume of 744,444. The stock’s fifty day simple moving average is $9.70 and its 200-day simple moving average is $9.80. The company has a market capitalization of $504.33 million, a price-to-earnings ratio of 10.12 and a beta of 1.20. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24.
NerdWallet (NASDAQ:NRDS – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). NerdWallet had a return on equity of 18.07% and a net margin of 7.56%. The company had revenue of $239.60 million during the quarter, compared to the consensus estimate of $251.86 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts forecast that NerdWallet will post 0.88 earnings per share for the current year.
Hedge Funds Weigh In On NerdWallet
Several institutional investors and hedge funds have recently modified their holdings of NRDS. Arrowstreet Capital Limited Partnership lifted its stake in shares of NerdWallet by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after purchasing an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after acquiring an additional 153,790 shares during the period. Renaissance Technologies LLC boosted its stake in NerdWallet by 25.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after purchasing an additional 202,838 shares during the period. Principal Financial Group Inc. bought a new stake in NerdWallet during the first quarter worth approximately $2,903,000. Finally, Russell Investments Group Ltd. boosted its holdings in NerdWallet by 97.0% during the third quarter. Russell Investments Group Ltd. now owns 176,576 shares of the company’s stock worth $1,550,000 after buying an additional 86,927 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.
Trending Headlines about NerdWallet
Here are the key news stories impacting NerdWallet this week:
- Positive Sentiment: Truist maintained a Buy rating and sees potential upside from its current level, although it cut its price target to $12 from $15. Truist analyst information
- Negative Sentiment: Fourth-quarter revenue guidance of $191 million–$203 million came in well below the roughly $241 million analyst consensus, signaling a weaker near-term outlook. NerdWallet third-quarter results
- Negative Sentiment: Third-quarter adjusted earnings of $0.23 per share and revenue of $239.6 million missed consensus estimates of $0.34 and $251.9 million, respectively. Earnings also declined from $0.34 per share a year earlier. NerdWallet misses third-quarter estimates
- Negative Sentiment: Costs rose about 22%, nearly twice the 12% growth in consumer revenue, fueling concerns that expense growth is eroding the benefit of sales gains. Why NerdWallet stock came under pressure
- Negative Sentiment: William Blair downgraded NerdWallet from Outperform to Market Perform, adding to the cautious analyst commentary. William Blair downgrade
About NerdWallet
NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products.
The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.
Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States.
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