By Sam Boughedda
Investing.com — Shares of American personal finance company Nerdwallet Inc (NASDAQ:) 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:) 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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