NerdWallet price target raised to $22 from $20 at KeyBanc

KeyBanc raised the firm’s price target on NerdWallet to $22 from $20 and keeps an Overweight rating on the shares. The firm left NerdWallet’s Q4 earnings call with increased confidence on the reacceleration path and margin progression in a recovery. In KeyBanc’s view, softness in Q4 around sub-prime and near-prime consumers is merely a speed bump ahead of ongoing traffic gains; low double digits percentage growth returning in the second half of 2024; and a return to 19% EBITDA margin before new segments have fully monetized.