Wealthfront (NASDAQ:WLTH) Earns "Buy" Rating from Needham & Company LLC

Wealthfront (NASDAQ:WLTH - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. Needham & Company LLC's target price points to a potential upside of 23.22% from the stock's previous close.

Several other brokerages have also recently issued reports on WLTH. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Wealthfront in a report on Friday. The Goldman Sachs Group reissued a "neutral" rating and set a $10.00 price objective on shares of Wealthfront in a research note on Thursday, September 10th. Wall Street Zen raised Wealthfront from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Keefe, Bruyette & Woods reduced their price objective on Wealthfront from $11.00 to $10.50 and set a "market perform" rating on the stock in a research note on Monday, July 13th. Finally, Wells Fargo & Company assumed coverage on Wealthfront in a research note on Thursday, October 1st. They set an "overweight" rating and a $11.50 target price on the stock. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.14.

Wealthfront Trading Down 0.7%

NASDAQ WLTH opened at $10.55 on Wednesday. The stock's 50 day moving average is $9.72 and its 200 day moving average is $9.87. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The stock has a market cap of $1.65 billion and a PE ratio of -11.34.

Wealthfront (NASDAQ:WLTH - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%.The company had revenue of $91.87 million for the quarter. Wealthfront's revenue was up .9% on a year-over-year basis. On average, analysts forecast that Wealthfront will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Wealthfront news, VP Kal Iyer sold 26,738 shares of the company's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.11, for a total transaction of $270,321.18. Following the completion of the sale, the vice president owned 232,494 shares in the company, valued at $2,350,514.34. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alan Imberman sold 76,540 shares of the company's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.10, for a total value of $773,054.00. Following the sale, the chief financial officer owned 396,970 shares of the company's stock, valued at approximately $4,009,397. This represents a 16.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 270,688 shares of company stock worth $2,796,816 in the last three months. Corporate insiders own 27.36% of the company's stock.

Institutional Trading of Wealthfront

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada purchased a new stake in shares of Wealthfront during the 1st quarter valued at $27,000. Strs Ohio purchased a new stake in shares of Wealthfront during the 1st quarter valued at $56,000. Squarepoint Ops LLC acquired a new position in shares of Wealthfront in the 2nd quarter valued at $90,000. Arizona State Retirement System acquired a new position in shares of Wealthfront in the 2nd quarter valued at $102,000. Finally, AXQ Capital LP acquired a new position in shares of Wealthfront in the 2nd quarter valued at $105,000.

Wealthfront Company Profile

Wealthfront, Inc is a U.S.-focused financial technology company that provides automated investing, digital financial planning and cash-management services through an online platform. Its services are designed to help individuals manage portfolios, save for financial goals and oversee their finances without relying on traditional branch-based advisory services.

The company's offerings have included diversified, automated investment portfolios; a cash account for saving and managing everyday funds; financial-planning tools; and lending products such as portfolio lines of credit.