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WisdomTree, Inc. (WT) Surges 6.6%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

WisdomTree, Inc. (WT) shares soared 6.6% in the last trading session to close at $9.64. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.1% gain over the past four weeks.

WisdomTree's stock experienced a surge in price following a rating upgrade from Market Perform to Outperform by Northland Capital, along with a revised price target of $12.00, up from $8.50. It cited promising growth prospects for WisdomTree, fueled by enhanced fee funds and initiatives like WT Prime and tokenization. Leveraging blockchain technology, WisdomTree offers a diverse range of exchange-traded products and managed assets totaling around $107.3 billion as of Mar 28, 2024.

This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +57.1%. Revenues are expected to be $94.67 million, up 15.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For WisdomTree, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

WisdomTree, Inc. belongs to the Zacks Financial - Miscellaneous Services industry. Another stock from the same industry, Jackson Financial (JXN), closed the last trading session 2.6% higher at $67.50. Over the past month, JXN has returned 17.3%.

For Jackson Financial , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.75. This represents a change of +19.1% from what the company reported a year ago. Jackson Financial currently has a Zacks Rank of #2 (Buy).

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WisdomTree, Inc. (WT) : Free Stock Analysis Report

Jackson Financial Inc. (JXN) : Free Stock Analysis Report

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Zacks Investment Research