NerdWallet FY2024 EPS Forecast Decreased by William Blair

NerdWallet, Inc. (NASDAQ:NRDS) – Equities research analysts at William Blair reduced their FY2024 earnings estimates for NerdWallet in a research note issued to investors on Tuesday, October 29th. William Blair analyst R. Schackart now expects that the company will post earnings of ($0.18) per share for the year, down from their prior forecast of ($0.07). The consensus estimate for NerdWallet’s current full-year earnings is ($0.05) per share. William Blair also issued estimates for NerdWallet’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at $0.05 EPS and FY2025 earnings at $0.03 EPS.

Other equities analysts also recently issued research reports about the company. Morgan Stanley raised their price target on NerdWallet from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial reduced their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. KeyCorp raised their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer cut their price objective on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, Barclays lifted their target price on shares of NerdWallet from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NerdWallet has an average rating of “Moderate Buy” and an average price target of $17.00.

NerdWallet Price Performance

Shares of NASDAQ NRDS opened at $14.51 on Friday. The firm’s 50-day moving average is $12.51 and its two-hundred day moving average is $13.25. NerdWallet has a 12-month low of $10.10 and a 12-month high of $17.30. The company has a market capitalization of $1.14 billion, a PE ratio of -103.64 and a beta of 1.38.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS.

Insider Activity at NerdWallet

In related news, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Topline Capital Management, Ll purchased 49,722 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average cost of $12.05 per share, with a total value of $599,150.10. Following the transaction, the insider now owns 4,839,090 shares in the company, valued at approximately $58,311,034.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the completion of the transaction, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at approximately $27,976,946.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is currently owned by company insiders.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of NerdWallet during the second quarter valued at approximately $31,000. nVerses Capital LLC bought a new stake in NerdWallet during the 3rd quarter valued at $62,000. US Bancorp DE acquired a new position in NerdWallet during the 3rd quarter worth $86,000. Algert Global LLC bought a new position in shares of NerdWallet in the second quarter worth $196,000. Finally, TNF LLC acquired a new position in shares of NerdWallet during the third quarter valued at $178,000. 38.81% of the stock is currently owned by institutional investors.

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.