Wealthfront (NASDAQ:WLTH) Stock Has Average Target Price of $12.14 According to Brokerages

Wealthfront (NASDAQ:WLTH) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.14.

Several equities analysts have weighed in on WLTH shares. Keefe, Bruyette & Woods decreased their target price on shares of Wealthfront from $11.00 to $10.50 and set a “market perform” rating on the stock in a report on Monday, July 13th. Wells Fargo & Company initiated coverage on shares of Wealthfront in a report on Thursday. They set an “overweight” rating and a $11.50 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 price target on shares of Wealthfront in a research report on Thursday, September 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Wealthfront in a report on Monday, July 6th. Finally, Needham & Company LLC began coverage on Wealthfront in a research report on Friday, September 25th. They issued a “buy” rating and a $13.00 price objective for the company.

Wealthfront Price Performance

NASDAQ WLTH opened at $10.03 on Monday. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88. The business’s fifty day simple moving average is $9.68 and its 200-day simple moving average is $9.83. The firm has a market cap of $1.57 billion and a PE ratio of -10.78.

Wealthfront (NASDAQ:WLTH) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Wealthfront had a negative net margin of 19.42% and a negative return on equity of 14.62%. The firm had revenue of $91.87 million for the quarter. Wealthfront’s revenue for the quarter was up .9% on a year-over-year basis. 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 4,574 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $10.10, for a total transaction of $46,197.40. Following the completion of the sale, the insider directly owned 171,816 shares of the company’s stock, valued at approximately $1,735,341.60. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Julien Wetterwald sold 26,138 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.10, for a total transaction of $263,993.80. Following the completion of the sale, the chief technology officer owned 696,525 shares in the company, valued at approximately $7,034,902.50. This trade represents a 3.62% decrease in their ownership of the stock. 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 279,191 shares of company stock worth $2,877,594 over the last ninety days. Company insiders own 27.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WLTH. Royal Bank of Canada acquired a new stake in shares of Wealthfront during the first quarter valued at about $27,000. Strs Ohio acquired a new position in shares of Wealthfront in the 1st quarter worth approximately $56,000. Squarepoint Ops LLC purchased a new position in shares of Wealthfront during the 2nd quarter worth approximately $90,000. Arizona State Retirement System purchased a new position in shares of Wealthfront during the 2nd quarter worth approximately $102,000. Finally, AXQ Capital LP acquired a new stake in Wealthfront in the 2nd quarter valued at approximately $105,000.

About Wealthfront

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.