NerdWallet price target lowered to $20 from $21 at Truist

Truist analyst Youssef Squali lowered the firm’s price target on NerdWallet to $20 from $21 but keeps a Buy rating on the shares. The company reported another stronger-than-expected quarter, reflecting good execution and share gains in several end markets amid a rising rate environment, but challenging macro with tighter underwriting standards drove a Q4 guide that was shy of consensus estimates, the analyst tells investors in a research note. NerdWallet is well positioned to benefit from the rebound in demand when the macro improves, the firm added.