KeyCorp Forecasts Strong Price Appreciation for NerdWallet (NASDAQ:NRDS) Stock

NerdWallet (NASDAQ:NRDS) had its price target raised by equities research analysts at KeyCorp from $18.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 36.15% from the stock’s previous close.

Several other research firms have also issued reports on NRDS. Truist Financial decreased their target price on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Morgan Stanley boosted their target price on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday. Oppenheimer cut their target price on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays upped their price objective on NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, NerdWallet has an average rating of “Moderate Buy” and a consensus price target of $17.00.

NerdWallet Stock Down 2.5 %

Shares of NRDS stock opened at $14.69 on Wednesday. The business’s 50 day moving average is $12.41 and its two-hundred day moving average is $13.23. The company has a market cap of $1.16 billion, a PE ratio of -104.93 and a beta of 1.42. NerdWallet has a 12 month low of $10.10 and a 12 month high of $17.30.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data 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). NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. The company had revenue of $150.60 million for the quarter, compared to the consensus estimate of $149.93 million. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that NerdWallet will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NRDS. Quarry LP purchased a new position in NerdWallet in the second quarter worth $31,000. nVerses Capital LLC purchased a new position in NerdWallet in the third quarter worth $62,000. US Bancorp DE purchased a new position in shares of NerdWallet during the 3rd quarter valued at $86,000. TNF LLC purchased a new position in shares of NerdWallet during the 3rd quarter valued at $178,000. Finally, Algert Global LLC purchased a new position in shares of NerdWallet during the 2nd quarter valued at $196,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.