NerdWallet (NASDAQ:NRDS) Announces Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) posted its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, Briefing.com reports. The company had revenue of $161.90 million during the quarter, compared to analyst estimates of $156.95 million. NerdWallet had a negative return on equity of 3.39% and a negative net margin of 2.10%. NerdWallet’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Performance

NRDS opened at $12.89 on Friday. NerdWallet has a one year low of $6.38 and a one year high of $17.30. The stock has a market capitalization of $992.66 million, a PE ratio of -75.82 and a beta of 1.39. The business’s 50 day moving average price is $15.01 and its 200 day moving average price is $13.52.

Insider Activity at NerdWallet

In related news, VP Samuel Yount sold 6,309 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $16.16, for a total value of $101,953.44. Following the transaction, the vice president now directly owns 2,350,242 shares in the company, valued at $37,979,910.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NRDS shares. Truist Financial dropped their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. KeyCorp upped their price target on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Barclays upped their price target on NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Citigroup upped their price target on NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NerdWallet currently has an average rating of “Moderate Buy” and an average price target of $16.50.

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.