Wealthfront (NASDAQ:WLTH) Receives Average Rating of “Hold” from Analysts

Shares of Wealthfront (NASDAQ:WLTH) have been given a consensus recommendation of “Hold” by the nine analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.3333.

A number of equities research analysts recently issued reports on the stock. Citizens Jmp lowered their target price on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a report on Monday, March 16th. Royal Bank Of Canada lowered their target price on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 9th. Wells Fargo & Company boosted their target price on shares of Wealthfront from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on shares of Wealthfront from $16.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Finally, The Goldman Sachs Group decreased 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.

Wealthfront Stock Down 0.2%

NASDAQ:WLTH opened at $12.19 on Tuesday. The firm has a 50 day moving average price of $10.62. Wealthfront has a 1-year low of $7.20 and a 1-year high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The firm had revenue of $96.14 million for the quarter, compared to analyst estimates of $91.95 million. Research analysts anticipate that Wealthfront will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wealthfront

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC purchased a new stake in Wealthfront during the fourth quarter worth approximately $4,396,000. Teacher Retirement System of Texas purchased a new stake in Wealthfront during the fourth quarter worth approximately $2,310,000. Dag Ventures LLC purchased a new stake in Wealthfront during the fourth quarter worth approximately $187,725,000. Seven Grand Managers LLC purchased a new stake in Wealthfront during the fourth quarter worth approximately $2,038,000. Finally, UBS Group AG purchased a new position in shares of Wealthfront in the fourth quarter valued at $2,243,000.

About Wealthfront

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.