NerdWallet (NASDAQ:NRDS) Issues Earnings Results

NerdWallet (NASDAQ:NRDS) announced its quarterly earnings data on Thursday. The company reported $0.01 earnings per share for the quarter, Briefing.com reports. NerdWallet had a negative return on equity of 3.24% and a negative net margin of 1.97%. The company had revenue of $161.90 million for the quarter, compared to analyst estimates of $156.95 million. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Down 1.8 %

Shares of NerdWallet stock traded down $0.25 during trading on Friday, hitting $13.27. 643,226 shares of the company were exchanged, compared to its average volume of 339,670. NerdWallet has a fifty-two week low of $6.38 and a fifty-two week high of $17.30. The firm has a 50 day moving average price of $15.09 and a 200 day moving average price of $13.49. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -81.74 and a beta of 1.39.

Insider Activity

In other news, VP Samuel Yount sold 6,309 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the completion of the sale, the vice president now directly owns 2,350,242 shares of the company’s stock, valued at approximately $37,979,910.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 45.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NRDS shares. KeyCorp lifted their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Truist Financial reduced their price target on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Barclays lifted their price target on shares of NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Citigroup lifted their price target on shares of NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.