KeyCorp Has Lowered Expectations for NerdWallet (NASDAQ:NRDS) Stock Price

by · The Markets Daily

NerdWallet (NASDAQ:NRDS – Get Free Report) had its price target decreased by investment analysts at KeyCorp from $18.00 to $14.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 62.04% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Barclays boosted their price target on NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Citigroup reduced their target price on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Morgan Stanley lowered their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Two equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Check Out Our Latest Report on NRDS

NerdWallet Price Performance

NRDS stock traded down $0.44 during midday trading on Monday, reaching $8.64. 128,806 shares of the company’s stock traded hands, compared to its average volume of 529,526. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.45. The business has a 50-day moving average price of $8.98 and a two-hundred day moving average price of $12.03. The company has a market capitalization of $640.29 million, a P/E ratio of 21.55 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. The firm had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $168.33 million. As a group, research analysts forecast that NerdWallet will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of NerdWallet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new position in NerdWallet during the 4th quarter worth $69,840,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NerdWallet by 157.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Quinn Opportunity Partners LLC grew its stake in NerdWallet by 3,324.4% in the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock worth $11,887,000 after purchasing an additional 867,681 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NerdWallet by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock valued at $11,537,000 after acquiring an additional 64,366 shares during the last quarter. Finally, Alta Fox Capital Management LLC bought a new position in NerdWallet during the fourth quarter worth $10,761,000. Institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

(Get Free Report)

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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