NerdWallet price target lowered to $18 from $20 at KeyBanc

KeyBanc lowered the firm’s price target on NerdWallet (NRDS) to $18 from $20 and keeps an Overweight rating on the shares. The firm notes NerdWallet delivered better than expected revenue growth for Q4 and expects some growth tailwinds to continue into Q1 2025. However, a softer margin outlook and a de-emphasis on traffic growth will likely invite more questions on how GenAI is impacting the business and whether unit economics are changing, KeyBanc adds.