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

Citi analyst Peter Christiansen lowered the firm’s price target on NerdWallet to $11 from $14 and keeps a Neutral rating on the shares. The firm says even against reduced marketing spend signaled last results, NerdWallet’s unique traffic continues to grow. Recent data also suggests NerdWallet traffic has overtaken Credit Karma traffic share, now leading by 6%, the analyst tells investors in a research note. However, the firm reduced the price target to reflect pushed-out growth.