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The Q3 earnings season is in full swing, and so far, it seems to be delivering big upside surprises despite continued rumblings of a consumer slowdown in the U.S.
NerdWallet (NASDAQ:NRDS), the financial advice website, was one of
NerdWallet: Insurance Category Is Driving Hyper-Growth
Summary
- Shares of NerdWallet have soared after the company posted much better than expected Q3 results.
- Revenue growth accelerated sharply to 25% y/y, driven by an uptick in consumers shopping around for new insurance plans.
- Still, we have to watch out for softer traffic trends, which the company expects to get worse heading into Q4.
- I continue to find an attractive risk-reward profile in NerdWallet, especially with the stock trading at just ~9x adjusted EBITDA.
With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of NRDS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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