Morgan Stanley Issues Positive Forecast for NerdWallet (NASDAQ:NRDS) Stock Price

NerdWallet (NASDAQ:NRDS) had its target price hoisted by Morgan Stanley from $14.00 to $15.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Barclays increased their price target on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Oppenheimer reduced their price target on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

NerdWallet Price Performance

NerdWallet stock opened at $15.06 on Wednesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -107.57 and a beta of 1.42. The firm has a 50-day moving average of $12.35 and a two-hundred day moving average of $13.22. NerdWallet has a 1 year low of $10.10 and a 1 year high of $17.30.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 1.85% and a negative return on equity of 2.98%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) EPS. Research analysts expect that NerdWallet will post -0.01 earnings per share for the current year.

Insider Buying and Selling at NerdWallet

In other news, insider Topline Capital Management, Ll purchased 49,722 shares of the stock in a transaction dated Monday, October 21st. The shares were acquired at an average cost of $12.05 per share, for a total transaction of $599,150.10. Following the acquisition, the insider now owns 4,839,090 shares of the company’s stock, valued at approximately $58,311,034.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NerdWallet news, insider Topline Capital Management, Ll acquired 49,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was purchased at an average price of $12.05 per share, for a total transaction of $599,150.10. Following the acquisition, the insider now owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Samuel Yount sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $60,050.00. Following the completion of the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at $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 owned by insiders.

Institutional Investors Weigh In On NerdWallet

A number of large investors have recently modified their holdings of the business. Lord Abbett & CO. LLC raised its position in shares of NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after purchasing an additional 481,958 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NerdWallet by 12.1% during 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 period. Dimensional Fund Advisors LP lifted its stake in shares of NerdWallet by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock worth $11,239,000 after buying an additional 86,376 shares during the period. Renaissance Technologies LLC grew its holdings in shares of NerdWallet by 18.8% during the second quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock valued at $3,665,000 after buying an additional 39,800 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of NerdWallet in the 2nd quarter valued at $555,000. 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.