Wealthfront (NASDAQ:WLTH) Sees Strong Trading Volume – What’s Next?

Wealthfront (NASDAQ:WLTH) shares saw an uptick in trading volume on Monday . 1,279,363 shares were traded during trading, a decline of 10% from the previous session’s volume of 1,418,339 shares.The stock last traded at $8.8830 and had previously closed at $9.85.

Analyst Upgrades and Downgrades

WLTH has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Wealthfront from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company upped their price objective on Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods decreased their price objective on Wealthfront from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Friday, June 5th. Royal Bank Of Canada decreased their price objective on Wealthfront from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group dropped their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Wealthfront presently has a consensus rating of “Hold” and an average target price of $12.75.

Wealthfront Price Performance

The business has a 50-day moving average of $10.86.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $90.48 million during the quarter. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Wealthfront will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wealthfront

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in shares of Wealthfront in the 1st quarter valued at approximately $27,000. Sandia Investment Management LP acquired a new position in shares of Wealthfront during the fourth quarter worth $44,000. Strs Ohio acquired a new position in shares of Wealthfront during the first quarter worth $56,000. SummitTX Capital L.P. acquired a new position in shares of Wealthfront during the first quarter worth $131,000. Finally, Barclays PLC acquired a new position in shares of Wealthfront during the fourth quarter worth $136,000.

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.