Wealthfront (NASDAQ:WLTH) Shares Down 5.2% Following Analyst Downgrade

Shares of Wealthfront (NASDAQ:WLTH) were down 5.2% during trading on Friday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The stock traded as low as $9.56 and last traded at $9.62. Approximately 350,697 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,064,080 shares. The stock had previously closed at $10.15.

Separately, Wells Fargo & Company decreased their price objective on shares of Wealthfront from $16.50 to $15.50 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.50.

Wealthfront Price Performance

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings results on Monday, January 12th. The company reported $0.21 EPS for the quarter. The company had revenue of $93.22 million during the 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.