Wealthfront (NASDAQ:WLTH) Shares Up 2.4% - What's Next?

Key Points

• Shares of Wealthfront (NASDAQ:WLTH) were up about 2.4% mid-day to $10.95 (intraday high $11.10) while volume (~761,066 shares) was roughly 30% below the average daily level.
• Several firms have cut price targets (e.g., Goldman, JPMorgan, RBC), leaving a consensus rating of Hold and a consensus price target of $12.17, with 4 Buy, 4 Hold and 1 Sell from analysts.
• Wealthfront’s latest quarter missed on EPS (loss of $1.31 vs. -$1.24 expected) but beat on revenue ($96.14M vs. $91.95M), and institutions including T. Rowe Price and Invesco established sizable new positions.

Shares of Wealthfront (NASDAQ:WLTH - Get Free Report) were up 2.4% during mid-day trading on Monday . The stock traded as high as $11.10 and last traded at $10.95. Approximately 761,066 shares changed hands during trading, a decline of 30% from the average daily volume of 1,083,379 shares. The stock had previously closed at $10.69.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded Wealthfront to a "hold" rating in a research note on Thursday, January 15th. The Goldman Sachs Group dropped their price objective on Wealthfront from $12.00 to $10.50 and set a "neutral" rating on the stock in a report on Thursday, March 12th. JPMorgan Chase & Co. cut their price objective on Wealthfront from $16.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. Citizens Jmp reduced their target price on Wealthfront from $20.00 to $17.00 and set a "market outperform" rating for the company in a research note on Monday, March 16th. Finally, Royal Bank Of Canada decreased their target price on Wealthfront from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.17.

Wealthfront Trading Up 2.4%

The firm has a 50-day moving average price of $9.18.

Wealthfront (NASDAQ:WLTH - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.24) by ($0.07). The company had revenue of $96.14 million for the quarter, compared to analysts' expectations of $91.95 million. As a group, research analysts forecast that Wealthfront will post 0.46 earnings per share for the current year.

Institutional Trading of Wealthfront

A number of institutional investors have recently made changes to their positions in WLTH. Strs Ohio purchased a new stake in shares of Wealthfront during the first quarter worth approximately $56,000. T. Rowe Price Investment Management Inc. purchased a new position in Wealthfront in the 4th quarter valued at $31,136,000. Invesco Ltd. acquired a new stake in Wealthfront during the 4th quarter worth $13,590,000. XTX Topco Ltd acquired a new stake in Wealthfront during the 4th quarter worth $485,000. Finally, Zimmer Partners LP purchased a new stake in shares of Wealthfront during the fourth quarter worth $951,000.

About Wealthfront

Wealthfront NASDAQ: WLTH is a technology-driven wealth management firm that provides automated investment services to individual investors. Operating as a robo-advisor, the company uses algorithms and software to construct and manage diversified portfolios largely composed of low-cost exchange-traded funds (ETFs). Its platform is geared toward long-term, goal-based investing with an emphasis on passive strategies, automated rebalancing and straightforward user experience delivered through web and mobile applications.

The company’s product suite includes automated portfolio management, tax-loss harvesting and goal-planning tools that help clients set and track financial objectives.

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