NerdWallet (NASDAQ:NRDS) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

NerdWallet (NASDAQ:NRDS) issued its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06), Briefing.com reports. The firm had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative net margin of 2.10% and a negative return on equity of 3.36%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. NerdWallet updated its Q3 2024 guidance to EPS.

NerdWallet Stock Performance

Shares of NerdWallet stock traded down $3.19 during mid-day trading on Thursday, hitting $11.44. 1,873,303 shares of the stock were exchanged, compared to its average volume of 335,127. NerdWallet has a 12 month low of $6.38 and a 12 month high of $17.30. The company has a 50-day simple moving average of $14.38 and a 200 day simple moving average of $14.71. The company has a market capitalization of $889.35 million, a P/E ratio of -68.53 and a beta of 1.46.

Wall Street Analysts Forecast Growth

NRDS has been the subject of a number of analyst reports. Oppenheimer cut their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays cut their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NerdWallet currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Insiders Place Their Bets

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