These Analysts Cut Their Forecasts On Wealthfront After Q4 Earnings

Wealthfront Corp (NASDAQ:WLTH) reported mixed results for the fourth quarter on Wednesday.

The company posted quarterly losses of $1.31 per share which missed the analyst consensus estimate of losses of $1.17 per share. The company reported quarterly sales of $96.136 million which beat the analyst consensus estimate of $92.351 million.

David Fortunato, CEO, President & Director, said, “We capped off a milestone year in the fourth quarter as we went public and drove another quarter-end record in Total Platform Assets due in large part to a second consecutive record quarter in net cross account transfers from Cash Management to Investment Advisory. We continued to expand our product suite in our effort to optimize client financial outcomes including with the launch of early access to Wealthfront Home Lending, the initial rollout of the Wealthfront Treasury Money Market Fund, and further enhancements to our core Investment Advisory and Cash Management offerings.”

Wealthfront shares fell 13% to trade at $7.31 on Thursday.

These analysts made changes to their price targets on Wealthfront following earnings announcement.

• Keefe, Bruyette & Woods analyst Ryan Tomasello downgraded Wealthfront from Outperform to Market Perform and lowered the price target from $13.5 to $9.5.
• Wells Fargo analyst Robert Ryan maintained the stock with an Overweight rating and lowered the price target from $12.5 to $12.

Considering buying WLTH stock? Here’s what analysts think:

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