Analysts Set Expectations for NerdWallet FY2024 Earnings

NerdWallet, Inc. (NASDAQ:NRDS) – Analysts at William Blair cut their FY2024 earnings estimates for shares of NerdWallet in a research report issued on Tuesday, October 29th. William Blair analyst R. Schackart now anticipates that the company will post earnings per share of ($0.18) for the year, down from their prior estimate of ($0.07). The consensus estimate for NerdWallet’s current full-year earnings is ($0.01) per share. William Blair also issued estimates for NerdWallet’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at $0.05 EPS and FY2025 earnings at $0.03 EPS.

NRDS has been the topic of several other research reports. Oppenheimer lowered their target price on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays lifted their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial lowered their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. KeyCorp lifted their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their target price on shares of NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Stock Down 1.2 %

Shares of NRDS opened at $14.51 on Friday. NerdWallet has a 52-week low of $10.10 and a 52-week high of $17.30. The firm’s fifty day moving average is $12.46 and its two-hundred day moving average is $13.24. The stock has a market cap of $1.14 billion, a PE ratio of -103.64 and a beta of 1.42.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results 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 1.65% and a negative return on equity of 2.90%. The company had revenue of $150.60 million during the quarter, compared to analyst estimates of $149.93 million. During the same period in the prior year, the business posted ($0.14) EPS. NerdWallet’s revenue was up 5.1% compared to the same quarter last year.

Institutional Trading of NerdWallet

Several institutional investors and hedge funds have recently bought and sold shares of NRDS. Quarry LP purchased a new stake in NerdWallet in the 2nd quarter valued at about $31,000. nVerses Capital LLC purchased a new stake in NerdWallet during the third quarter worth about $62,000. US Bancorp DE purchased a new stake in NerdWallet during the third quarter worth about $86,000. TNF LLC purchased a new stake in NerdWallet during the third quarter worth about $178,000. Finally, Algert Global LLC purchased a new stake in NerdWallet during the second quarter worth about $196,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp purchased 412,055 shares of NerdWallet stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now directly owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Topline Capital Partners, Lp acquired 412,055 shares of NerdWallet stock in a transaction that occurred on Tuesday, October 22nd. The shares were purchased at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now owns 5,251,145 shares in the company, valued at approximately $59,600,495.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the sale, the vice president now owns 2,329,471 shares in the company, valued at approximately $27,976,946.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 45.93% 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.