NerdWallet (NASDAQ:NRDS) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

NerdWallet (NASDAQ:NRDS) posted its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06), Briefing.com reports. NerdWallet had a negative return on equity of 3.36% and a negative net margin of 2.10%. The firm had revenue of $150.60 million for the quarter, compared to the consensus estimate of $149.93 million. During the same period in the prior year, the business earned ($0.14) EPS. NerdWallet’s quarterly revenue was up 5.1% compared to the same quarter last year. NerdWallet updated its Q3 2024 guidance to EPS.

NerdWallet Trading Down 21.8 %

Shares of NASDAQ NRDS traded down $3.19 during midday trading on Thursday, hitting $11.44. 1,873,303 shares of the company’s stock were exchanged, compared to its average volume of 335,127. NerdWallet has a 12-month low of $6.38 and a 12-month high of $17.30. The company has a market cap of $889.35 million, a price-to-earnings ratio of -68.53 and a beta of 1.46. The business’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $14.71.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer decreased their price objective on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NerdWallet presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Buying and Selling at NerdWallet

In other NerdWallet news, Director Jennifer Ceran sold 5,897 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $13.70, for a total transaction of $80,788.90. Following the sale, the director now owns 36,099 shares in the company, valued at $494,556.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jennifer Ceran sold 5,897 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $13.70, for a total value of $80,788.90. Following the completion of the sale, the director now owns 36,099 shares of the company’s stock, valued at approximately $494,556.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $14.66, for a total value of $73,300.00. Following the transaction, the vice president now directly owns 2,341,971 shares in the company, valued at $34,333,294.86. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by company insiders.

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.