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NerdWallet Shares Slide Despite Analyst Ratings

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  • NRDS

By Sam Boughedda

Investing.com — Shares of American personal finance company Nerdwallet Inc (NASDAQ:NRDS) fell more than 8.7% on Monday, despite multiple analysts providing positive commentary on the firm.

Analysts at William Blair, KeyBanc, Barclays, BofA, Truist, Citi, and Oppenheimer initiated the stock with bullish ratings.

Barclays (LON:BARC) analyst Ross Sandler set a $29 price target on the stock, stating that it was an opportunity for investors to buy a "high-quality content business at a discount."

MeanwhileBofA started NerWallet with a $40 price target and buy rating, with analyst Nat Schindler telling investors that strong revenue growth and margins can drive upside from current levels.

Other reasons for positive ratings: strong organic traffic, consumer trust, brand recognition, platform content quality, and credit cards offering near-term upside.

The only analyst with a less than positive view of NerdWallet was Morgan Stanley's James Faucette, who initiated the stock with an equal weight rating and $24 price target. Faucette said he is mindful of the cyclicality and margin implications of sales and marketing spending.

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