NerdWallet price target lowered to $14 from $18 at KeyBanc

KeyBanc analyst Justin Patterson lowered the firm’s price target on NerdWallet (NRDS) to $14 from $18 and keeps an Overweight rating on the shares. While the firm believes NerdWallet’s Q1 results are likely to meet or exceed its/Street’s estimates, KeyBanc is cautious that macro could weigh on revenue and profitability throughout 2025. The firm lowered its 2025/2026 revenue forecast by 4%/6%. Despite the challenging macro, KeyBanc believes NerdWallet is presently under-earning and should experience outsized growth and margin expansion in a recovery.