Wealthfront (NASDAQ:WLTH) Given Average Recommendation of “Hold” by Brokerages

Wealthfront (NASDAQ:WLTH) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.3333.

A number of analysts have recently issued reports on the stock. 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 report on Thursday, March 12th. Wells Fargo & Company increased their price objective on Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their target price on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. The Goldman Sachs Group reduced their target price on Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Citizens Jmp decreased their price target on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, March 16th.

Wealthfront Price Performance

Shares of WLTH opened at $11.76 on Tuesday. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The firm has a 50-day moving average price of $10.21.

Wealthfront (NASDAQ:WLTH) last issued its earnings results on Wednesday, March 11th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The business had revenue of $96.14 million for the quarter, compared to the consensus estimate of $91.95 million. Equities research analysts anticipate that Wealthfront will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WLTH. Tiger Global Management LLC acquired a new stake in shares of Wealthfront during the fourth quarter valued at about $205,982,000. Dag Ventures LLC acquired a new position in shares of Wealthfront in the 4th quarter worth approximately $187,725,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront in the 4th quarter worth approximately $128,567,000. Wellington Management Group LLP purchased a new position in shares of Wealthfront during the 4th quarter worth approximately $54,182,000. Finally, North Reef Capital Management LP increased its holdings in Wealthfront by 135.2% in the 1st quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after purchasing an additional 1,658,624 shares during the last quarter.

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.