NerdWallet price target lowered to $11 from $14 at Citi

Citi analyst Peter Christiansen lowered the firm’s price target on NerdWallet (NRDS) to $11 from $14 and keeps a Neutral rating on the shares. The firm reset the company’s estimates to reflect a more moderate growth assumptions over the next three years. While NerdWallet’s revenue growth has been held-up primarily by auto insurance, stabilization in Cards and a rebound in Loans is likely required before the stock can regain its prior momentum, the analyst tells investors in a research note.