Wealthfront (NASDAQ:WLTH) Trading 5.4% Higher – Time to Buy?

Shares of Wealthfront (NASDAQ:WLTH) traded up 5.4% on Monday . The company traded as high as $9.40 and last traded at $9.2880. 461,449 shares traded hands during trading, a decline of 73% from the average session volume of 1,685,760 shares. The stock had previously closed at $8.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WLTH shares. JPMorgan Chase & Co. reduced their price objective on Wealthfront from $16.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Zacks Research raised Wealthfront to a “hold” rating in a research report on Thursday, January 15th. KeyCorp began coverage on Wealthfront in a report on Tuesday, January 6th. They issued a “sector weight” rating on the stock. Royal Bank Of Canada reduced their price target on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.17.

Wealthfront Trading Up 2.9%

The company has a 50 day simple moving average of $8.48.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.07). The company had revenue of $96.14 million for the quarter, compared to analyst estimates of $91.95 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP purchased a new position in shares of Wealthfront in the 4th quarter worth about $44,000. Barclays PLC purchased a new position in Wealthfront in the fourth quarter valued at approximately $136,000. Symmetry Investments LP bought a new position in Wealthfront during the fourth quarter valued at $190,000. Realta Investment Advisors bought a new stake in shares of Wealthfront in the fourth quarter valued at $194,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Wealthfront during the 4th quarter worth $245,000.

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.