NerdWallet price target raised to $20 from $18 at KeyBanc

KeyBanc raised the firm’s price target on NerdWallet (NRDS) to $20 from $18 and keeps an Overweight rating on the shares. The firm notes NerdWallet delivered a solid quarter, with revenue returning to 25% year-over-year growth and Q3 non-GAAP OM percentage reaching a new high of 12%. KeyBanc remains confident in normalized growth returning to the mid-teens, and expects to see ongoing margin improvement as macro conditions improve.