Stock Track | NerdWallet Soars 5% as Analysts Raise Price Targets

Stock Track11-11

NerdWallet (NRDS) stock is soaring 5.06% in intraday trading on Monday, fueled by a series of positive analyst actions. The personal finance company's shares are gaining momentum as multiple Wall Street firms have increased their price targets, signaling growing confidence in NerdWallet's future prospects.

Truist Securities has taken the lead by raising its price target for NerdWallet to $19 from $17, while maintaining a Buy rating on the stock. Analyst Youssef Squali from Truist Financial reaffirmed his bullish stance on the company. Meanwhile, Morgan Stanley has also increased its price target to $14 from $12, although it maintains an Equal Weight rating on the shares.

The upward revisions in price targets reflect analysts' optimism about NerdWallet's business model and growth potential. According to FactSet, the average analyst rating for NerdWallet stands at "overweight" with a mean price target of $15.83. This positive sentiment from Wall Street appears to be driving investor enthusiasm, contributing to the significant uptick in NerdWallet's stock price during today's trading session.

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