NerdWallet price target raised to $20 from $13 at Oppenheimer

Oppenheimer analyst Jed Kelly raised the firm’s price target on NerdWallet to $20 from $13 and keeps an Outperform rating on the shares after the company issued a 2024 outlook that implies revenue returning to double-digit growth in the back half, with margins expanding 250bps at the midpoint. The firm sees Q1 representing trough revenue, with Insurance snapping back first, followed by Cards/PLs when rates decline and delinquencies normalize.