NerdWallet (NASDAQ:NRDS) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of NerdWallet (NASDAQ:NRDS) from a buy rating to a strong-buy rating in a report released on Sunday.

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

NerdWallet Price Performance

NASDAQ NRDS opened at $10.47 on Friday. NerdWallet has a 1 year low of $7.86 and a 1 year high of $16.24. The company has a market capitalization of $699.25 million, a PE ratio of 16.36 and a beta of 1.42. The company has a fifty day moving average of $10.40 and a two-hundred day moving average of $12.09.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. NerdWallet’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, research analysts expect that NerdWallet will post 0.36 earnings per share for the current year.

NerdWallet declared that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of NerdWallet stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total value 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. The trade was a 29.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the sale, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at $540,462.90. The trade was a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 86,043 shares of company stock valued at $901,317. Corporate insiders own 46.54% of the company’s stock.

Institutional Trading of NerdWallet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new position in shares of NerdWallet in the 3rd quarter valued at $2,812,000. State of Wyoming boosted its holdings in shares of NerdWallet by 181.9% in the 2nd quarter. State of Wyoming now owns 65,784 shares of the company’s stock valued at $722,000 after purchasing an additional 42,447 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of NerdWallet by 44.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 178,894 shares of the company’s stock valued at $1,925,000 after purchasing an additional 54,626 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NerdWallet by 400.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock valued at $1,055,000 after purchasing an additional 78,447 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of NerdWallet by 82.8% in the 3rd quarter. AlphaQuest LLC now owns 26,204 shares of the company’s stock valued at $282,000 after purchasing an additional 11,866 shares during the last quarter. 38.81% of the stock is 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.