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

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

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

NerdWallet Stock Performance

NASDAQ:NRDS opened at $15.06 on Wednesday. The firm’s fifty day moving average is $12.35 and its two-hundred day moving average is $13.22. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -107.57 and a beta of 1.42. NerdWallet has a one year low of $10.10 and a one 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 for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $150.60 million for 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 was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) earnings per share. As a group, equities research analysts predict that NerdWallet will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at NerdWallet

In related news, VP Samuel Yount sold 5,000 shares of the 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 transaction, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Samuel Yount sold 5,000 shares of the 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 completion of the sale, the vice president now directly owns 2,329,471 shares in the company, valued at $27,976,946.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the completion of the purchase, the insider now owns 5,251,145 shares of the company’s stock, valued at approximately $59,600,495.75. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRDS. Lord Abbett & CO. LLC boosted its position in shares of NerdWallet by 108.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock valued at $13,621,000 after acquiring an additional 481,958 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NerdWallet by 12.1% during the 1st 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. Dimensional Fund Advisors LP raised its position in shares of NerdWallet by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after buying an additional 86,376 shares during the period. Renaissance Technologies LLC lifted its holdings in NerdWallet by 18.8% in the second quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock valued at $3,665,000 after acquiring an additional 39,800 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in NerdWallet in the second quarter worth approximately $555,000. 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.