Morgan Stanley Increases NerdWallet (NASDAQ:NRDS) Price Target to $15.00

NerdWallet (NASDAQ:NRDS) had its price objective raised by investment analysts at Morgan Stanley from $14.00 to $15.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 2.28% from the stock’s current price.

Several other research firms have also commented on NRDS. Truist Financial reduced their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Barclays boosted their price target on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Oppenheimer reduced their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Price Performance

Shares of NRDS stock traded up $4.03 during mid-day trading on Wednesday, hitting $15.35. The stock had a trading volume of 4,188,938 shares, compared to its average volume of 427,496. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30. The firm has a market capitalization of $1.21 billion, a P/E ratio of -101.79 and a beta of 1.42. The firm’s 50-day moving average is $12.35 and its two-hundred day moving average is $13.22.

NerdWallet (NASDAQ:NRDS) last issued its 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). The firm had revenue of $150.60 million during the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. NerdWallet’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Analysts expect that NerdWallet will post -0.01 EPS for the current year.

Insider Activity at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by corporate insiders.

Institutional Trading of NerdWallet

A number of hedge funds have recently modified their holdings of NRDS. Steamboat Capital Partners LLC boosted its stake in shares of NerdWallet by 1.7% in the first quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after buying an additional 4,030 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of NerdWallet by 108.4% in the first quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after buying an additional 481,958 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after buying an additional 432,262 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of NerdWallet in the second quarter worth about $445,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of NerdWallet by 27.6% in the second quarter. Bank of New York Mellon Corp now owns 122,873 shares of the company’s stock worth $1,794,000 after buying an additional 26,572 shares during the last quarter. Hedge funds and other institutional investors 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.