NerdWallet, Inc. Stocks (NASDAQ: NRDS – Get a rating) received a consensus “moderate buy” recommendation from the eight rating agencies that currently cover the company, Marketbeat.com reports. One analyst rated the stock with a hold rating and seven gave the company a buy rating. The 12-month average target price among brokers who have hedged the stock over the past year is $22.43.
A number of stock analysts have commented on the stock. Morgan Stanley raised its price target on NerdWallet shares from $11.00 to $12.00 and gave the company an “equal weight” rating in a Thursday, Nov. 3 research report. KeyCorp lowered its price target on NerdWallet shares from $15.00 to $14.00 and set an “overweight” rating for the company in a Tuesday, November 1 research note.
Institutional investors weigh in on NerdWallet
Several large investors have recently changed their positions in the stock. The New York State Common Retirement Fund increased its position in NerdWallet shares by 56.7% during the third quarter. The New York State Common Retirement Fund now owns 28,368 shares of the company worth $252,000 after acquiring 10,268 additional shares in the last quarter. Ridgecrest Wealth Partners LLC purchased a new equity stake in NerdWallet during the third quarter valued at $126,000. Goldman Sachs Group Inc. increased its position in NerdWallet shares by 500.4% during the second quarter. Goldman Sachs Group Inc. now owns 163,352 shares of the company worth $1,295,000 after acquiring an additional 136,144 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NerdWallet by 2.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,316,221 shares of the company worth $18,368,000 after buying 49,443 additional shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in NerdWallet during the second quarter worth $441,000. Institutional investors hold 29.40% of the company’s shares.
NerdWallet Stock Performance
NASDAQ NRDS opened at $12.96 on Friday. The stock has a market capitalization of $955.40 million and a P/E ratio of -30.86. The company’s 50-day simple moving average is $10.94 and its 200-day simple moving average is $10.19. NerdWallet has a twelve month minimum of $7.07 and a twelve month maximum of $27.93. The company has a quick ratio of 2.91, a current ratio of 2.91 and a leverage ratio of 0.22.
NerdWallet, Inc operates a digital platform that provides consumer-focused personal finance advice by connecting individuals and small and medium-sized businesses with financial product providers. The company’s platform offers guidance to consumers through educational content, tools and calculators and product marketplaces, as well as the NerdWallet app for various financial products including credit cards, mortgages, insurance, small business products, personal loans, banking services, investments and student loans. .
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