Wealthfront (NASDAQ:WLTH) Stock Has Consensus Price Target of $12.14

Wealthfront (NASDAQ:WLTH) has earned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $12.14.

Several equities analysts have weighed in on WLTH shares. Wells Fargo & Company initiated coverage on Wealthfront in a report on Thursday. They issued an “overweight” rating and a $11.50 price objective for the company. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Needham & Company LLC initiated coverage on Wealthfront in a research note on Friday, September 25th. They issued a “buy” rating and a $13.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wealthfront in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reduced their price objective on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th.

Wealthfront Stock Down 3.3%

Shares of NASDAQ:WLTH opened at $10.03 on Monday. The company’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $9.82. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The firm has a market cap of $1.57 billion and a PE ratio of -10.78.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $91.87 million during the quarter. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that Wealthfront will post 0.41 EPS for the current year.

Insiders Place Their Bets

In related news, insider Lauren Lin sold 16,117 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $10.73, for a total transaction of $172,935.41. Following the completion of the sale, the insider directly owned 181,385 shares in the company, valued at $1,946,261.05. This represents a 8.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kenneth A. Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the director directly owned 49,655 shares of the company’s stock, valued at approximately $496,550. The trade was a 16.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 287,695 shares of company stock valued at $2,957,447 over the last three months. 27.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wealthfront

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Index Venture Associates VI Ltd bought a new stake in shares of Wealthfront during the fourth quarter worth $128,567,000. BlackRock Inc. acquired a new stake in shares of Wealthfront during the 2nd quarter valued at $74,766,000. North Reef Capital Management LP grew its position in Wealthfront by 135.2% during the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock worth $26,689,000 after acquiring an additional 1,658,624 shares during the last quarter. Ieq Capital LLC acquired a new position in Wealthfront in the 2nd quarter worth about $24,706,000. Finally, Granahan Investment Management LLC acquired a new position in Wealthfront in the 4th quarter worth about $18,837,000.

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.