NerdWallet (NASDAQ:NRDS) Given New $16.00 Price Target at Truist Financial

NerdWallet (NASDAQ:NRDS) had its price objective reduced by Truist Financial from $19.00 to $16.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

NRDS has been the topic of several other research reports. Oppenheimer lowered their price objective on NerdWallet from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Thursday, August 1st. Barclays lowered their price target on shares of NerdWallet from $18.00 to $16.00 and set an overweight rating on the stock in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $16.00.

NerdWallet Stock Up 3.8 %

NRDS opened at $11.06 on Monday. NerdWallet has a 12-month low of $6.38 and a 12-month high of $17.30. The business has a 50 day moving average of $14.05 and a 200-day moving average of $14.56. The stock has a market cap of $859.78 million, a price-to-earnings ratio of -65.06 and a beta of 1.46.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The company had revenue of $150.60 million during the quarter, compared to the consensus estimate of $149.93 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that NerdWallet will post 0.22 earnings per share for the current year.

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

Institutional Investors Weigh In On NerdWallet

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock valued at $58,880,000 after purchasing an additional 432,262 shares during the last quarter. Azora Capital LP increased its position in NerdWallet by 23.7% in the 4th quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock valued at $15,516,000 after acquiring an additional 202,149 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of NerdWallet by 108.4% during the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after acquiring an additional 481,958 shares during the last quarter. Steamboat Capital Partners LLC lifted its holdings in shares of NerdWallet by 1.7% during the first quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after purchasing an additional 4,030 shares during the period. Finally, G2 Investment Partners Management LLC bought a new stake in shares of NerdWallet in the fourth quarter worth $2,463,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.