NerdWallet (NASDAQ:NRDS) Sets New 1-Year Low – Time to Sell?

Shares of NerdWallet, Inc. (NASDAQ:NRDS) hit a new 52-week low during trading on Thursday . The stock traded as low as $8.58 and last traded at $8.63, with a volume of 156352 shares traded. The stock had previously closed at $9.49.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NRDS. Morgan Stanley cut their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Barclays increased their target price on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Price Performance

The firm’s 50-day moving average price is $11.37 and its 200-day moving average price is $12.70. The company has a market cap of $636.59 million, a price-to-earnings ratio of 21.48 and a beta of 1.39.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $168.33 million. On average, sell-side analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of NerdWallet

Hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in NerdWallet in the fourth quarter worth about $901,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NerdWallet by 69.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company’s stock valued at $1,238,000 after acquiring an additional 38,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock valued at $140,000 after acquiring an additional 10,218 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in NerdWallet by 52.8% during the fourth quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company’s stock worth $9,091,000 after purchasing an additional 236,320 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in NerdWallet by 325.8% in the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock worth $9,312,000 after purchasing an additional 535,701 shares during the period. 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.