This past week was a rather spooky one in the markets. Volatility appears to be picking up once again, and investors are closely watching talk of tapering and inflation. However, for many risk assets, this volatility is acting in a beneficial way. Accordingly, the IPO-rich year we’ve seen doesn’t appear to be slowing. The upcoming NerdWallet IPO, which will see NRDS stock trade publicly, is one investors therefore have their eyes on right now.
This is certainly an intriguing development in the fintech and financial media space. Consumer financial advice websites have been around forever. However, garnering massive, multibillion-dollar valuations is not something many investors have seen in the past.
NerdWallet announced its intentions to file for an IPO earlier in May 2021. Then, the company made some of its filing paperwork public for investors to see. Accordingly, it announced some relatively strong growth statistics. These statistics are making the upcoming NRDS stock IPO even juicier to watch.
Let’s dive into what investors may want to consider with this upcoming IPO.
The Upcoming NerdWallet IPO and NRDS Stock
This upcoming NerdWallet IPO is likely to be one of the most-watched IPOs of this week. Indeed, the fact that we have had so many IPOs to watch this year is generally a good thing for investors.
The recent unveiling of NerdWallet’s financials appears to be driving much of this interest. The company reported a 32% jump in revenue year-over-year, a rather impressive increase.
Given the growing investor base that’s interested in a wider range of securities than ever before, perhaps these results aren’t unexpected. However, looking at NerdWallet’s numbers, we see a rather substantial user base that has materialized. The company reported reaching 21 million unique users per month in the first six months of 2021. Additionally, the company reported revenue of $182 million this past year.
Currently, NerdWallet is attempting to raise money at a $1.25 billion valuation. Such a valuation on the basis of backwards-looking revenue may be high. Accordingly, this IPO will be an interesting one to watch, when final pricing is announced some time this week.
Right now, the expected IPO range is $17 to $19 per share. NRDS stock is expected to start trading on Thursday, Nov. 4.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.