Wealthfront (NASDAQ:WLTH) Issues Earnings Results

Wealthfront (NASDAQ:WLTH) issued its quarterly earnings data on Thursday. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), Zacks reports.

Wealthfront Stock Performance

NASDAQ:WLTH traded down $0.26 during trading hours on Thursday, hitting $11.50. The company’s stock had a trading volume of 1,774,072 shares, compared to its average volume of 1,409,192. The company has a 50-day moving average price of $10.78. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in Wealthfront in the fourth quarter worth $2,073,000. Federated Hermes Inc. purchased a new position in Wealthfront in the fourth quarter worth $1,144,000. Weiss Asset Management LP purchased a new position in Wealthfront in the fourth quarter worth $1,019,000. Zimmer Partners LP purchased a new position in Wealthfront in the fourth quarter worth $951,000. Finally, Readystate Asset Management LP purchased a new position in Wealthfront in the fourth quarter worth $815,000.

Wall Street Analyst Weigh In

WLTH has been the subject of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $9.50 price target (down from $13.50) on shares of Wealthfront in a research note on Thursday, March 12th. Weiss Ratings initiated coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They set a “sell (d)” rating for the company. The Goldman Sachs Group lowered their target price on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Royal Bank Of Canada dropped their price target on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 9th. Finally, Citizens Jmp cut their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.33.

Wealthfront Company Profile

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.