NerdWallet (NASDAQ:NRDS) Issues Earnings Results

NerdWallet (NASDAQ:NRDS) announced its earnings results on Thursday. The company reported $0.01 EPS for the quarter, Briefing.com reports. NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.39%. The business had revenue of $161.90 million during the quarter, compared to analysts’ expectations of $156.95 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS opened at $12.89 on Friday. The firm has a fifty day moving average price of $15.01 and a 200 day moving average price of $13.55. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of research reports. Barclays upped their target price on shares of NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Truist Financial reduced their price objective on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup increased their price objective on shares of NerdWallet from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Finally, KeyCorp increased their price objective 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, NerdWallet has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling

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

About NerdWallet

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.