Barclays lowered the firm’s price target on NerdWallet to $18 from $21 and keeps an Overweight rating on the shares following the Q1 results. NerdWallet is holding up better than feared amid the biggest banking crisis in 15 years, but started to see negative demand trends in March when SVB went down, the analyst tells investors in a research note. Management is executing well, but the shares will trade sideways until revenue growth turns back up, possibly later this year, says the firm.
Published first on TheFly
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