NerdWallet (NASDAQ:NRDS) Given New $19.00 Price Target at Barclays

NerdWallet (NASDAQ:NRDS) had its price objective hoisted by equities researchers at Barclays from $17.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 35.91% from the company’s current price.

Several other equities analysts have also recently weighed in on NRDS. KeyCorp raised their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NerdWallet has a consensus rating of “Moderate Buy” and an average target price of $17.60.

NerdWallet Stock Performance

Shares of NRDS stock opened at $13.98 on Thursday. The firm’s 50 day moving average price is $13.84 and its two-hundred day moving average price is $13.23. The stock has a market cap of $1.03 billion, a PE ratio of -99.85 and a beta of 1.33. NerdWallet has a 52-week low of $10.10 and a 52-week high of $17.30.

NerdWallet (NASDAQ:NRDS) 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 negative net margin of 1.65% and a negative return on equity of 2.90%. As a group, sell-side analysts predict that NerdWallet will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Lauren Stclair sold 11,856 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $14.04, for a total value of $166,458.24. Following the sale, the chief financial officer now owns 313,100 shares in the company, valued at $4,395,924. This represents a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samuel Yount sold 440,336 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.49, for a total value of $5,940,132.64. Following the completion of the sale, the insider now directly owns 254,237 shares of the company’s stock, valued at $3,429,657.13. The trade was a 63.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 822,353 shares of company stock valued at $11,051,439 over the last 90 days. Company insiders own 45.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NerdWallet by 69.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,102 shares of the company’s stock valued at $1,238,000 after purchasing an additional 38,070 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NerdWallet by 3,417.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,517 shares of the company’s stock worth $140,000 after acquiring an additional 10,218 shares during the period. Nuveen Asset Management LLC increased its holdings in NerdWallet by 52.8% in the 4th quarter. Nuveen Asset Management LLC now owns 683,546 shares of the company’s stock worth $9,091,000 after acquiring an additional 236,320 shares during the last quarter. Millennium Management LLC raised its stake in NerdWallet by 325.8% in the 4th quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after acquiring an additional 535,701 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in NerdWallet by 14.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 569,106 shares of the company’s stock valued at $7,569,000 after purchasing an additional 70,862 shares during the last quarter. 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.