Citi raised the firm’s price target on NerdWallet to $16 from $11 and keeps a Neutral rating on the shares. The analyst says web traffic trends suggest Nerdwallet grew monthly users 15% in Q4 to 23M while gaining 1%-2% incremental share versus prominent financial services marketing providers. The firm increased the price target to reflect faster EBITDA margin expansion attributable to Nerdwallet’s own marketing spend efficiency.
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