NerdWallet (NASDAQ:NRDS – Get Free Report) had its price objective dropped by equities researchers at Oppenheimer from $20.00 to $18.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 50.25% from the company’s current price.
NerdWallet Trading Down 18.1 %
Shares of NRDS stock traded down $2.65 during trading hours on Thursday, reaching $11.98. 570,482 shares of the company’s stock were exchanged, compared to its average volume of 325,686. The company has a market cap of $931.33 million, a price-to-earnings ratio of -70.47 and a beta of 1.46. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The stock’s 50 day moving average is $14.38 and its 200-day moving average is $14.71.
NerdWallet (NASDAQ:NRDS – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $150.60 million during the quarter, compared to analysts’ expectations of $149.93 million. NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.36%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. Equities analysts anticipate that NerdWallet will post 0.22 EPS for the current year.
Insider Buying and Selling
Institutional Trading of NerdWallet
Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of NerdWallet during the fourth quarter worth about $110,000. SG Americas Securities LLC acquired a new stake in NerdWallet in the 4th quarter worth about $133,000. Arizona State Retirement System purchased a new stake in NerdWallet during the 4th quarter worth approximately $151,000. Olympiad Research LP acquired a new position in shares of NerdWallet during the fourth quarter valued at approximately $173,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of NerdWallet in the fourth quarter valued at approximately $205,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.
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.
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