NerdWallet price target raised to $25 from $18 at KeyBanc

KeyBanc raised the firm’s price target on NerdWallet to $25 from $18 and keeps an Overweight rating on the shares. As Q4 earnings season comes to a close, NerdWallet’s share gains and margin ramp versus peers is becoming more evident, the firm says. Based on KeyBanc’s projections, NerdWallet offers materially faster revenue growth and over 200 bps outsized margin expansion versus financial services advertising peers. Given the faster growth rate and margin profile, the firm is "increasingly comfortable" with a 14-times 2024 EV/EBITDA valuation.