NerdWallet price target lowered to $20 from $27 at Truist

Truist lowered the firm’s price target on NerdWallet to $20 from $27 but keeps a Buy rating on the shares. The firm is positive on the stock following its sixth consecutive stronger-than-expected quarter since IPO, reflecting share gains across credit card and insurance, the analyst tells investors in a research note. Truist adds however that its price target is cut as proactive tightening of credit underwriting for credit cards and headwinds to Insurance will likely cap the near-term growth at NerdWallet.