NerdWallet (NRDS) stock is soaring 5.12% in pre-market trading on Monday, following a bullish analyst report from Truist Financial. The personal finance company's shares are gaining momentum after receiving a vote of confidence from Wall Street.
Truist Financial analyst Youssef Squali has maintained a Buy rating on NerdWallet, Inc. Class A shares, setting a price target of $17.00. This reaffirmation of the company's potential has likely sparked investor interest, contributing to the significant stock price increase.
The $17 price target suggests substantial upside potential for NerdWallet's stock, which may be driving the current buying pressure. Investors appear to be responding positively to the analyst's confidence in the company's future prospects, despite the challenging economic environment for fintech and personal finance firms.
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