Wealthfront price target lowered to $10.50 from $12 at Goldman Sachs

Goldman Sachs analyst James Yaro lowered the firm’s price target on Wealthfront (WLTH) to $10.50 from $12 and keeps a Neutral rating on the shares. Wealthfront reported Q4 adjusted net income of $25M, above expectations, driven by stronger pre-tax income, modest asset growth, improving cash management trends late in the quarter, and a new $100M share repurchase program, though offset by February cash outflows, lower guided cash management fee rates, continued seasonal outflows, and delayed mortgage revenue, the analyst tells investors in a research note.