Wealthfront (NASDAQ:WLTH) Releases Earnings Results, Misses Estimates By $0.02 EPS

Wealthfront (NASDAQ:WLTH) released its quarterly earnings results 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. The firm had revenue of $90.48 million for the quarter.

Wealthfront Price Performance

WLTH traded down $0.26 during trading on Thursday, hitting $11.50. The stock had a trading volume of 1,778,784 shares, compared to its average volume of 1,409,200. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The company has a 50 day simple moving average of $10.78.

Analysts Set New Price Targets

WLTH has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Royal Bank Of Canada cut their price target on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. Citizens Jmp cut their price target on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, March 16th. The Goldman Sachs Group cut their price target 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Wealthfront from $16.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Zimmer Partners LP bought a new position in Wealthfront in the 4th quarter worth $951,000. Readystate Asset Management LP bought a new position in shares of Wealthfront during the 4th quarter worth about $815,000. State of Wisconsin Investment Board bought a new position in shares of Wealthfront during the 4th quarter worth about $680,000. Walleye Capital LLC bought a new position in shares of Wealthfront during the 4th quarter worth about $544,000. Finally, TD Asset Management Inc bought a new position in shares of Wealthfront during the 4th quarter worth about $500,000.

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.