WisdomTree Investments Given Overweight Rating at Piper Jaffray (WETF)
Piper Jaffray reissued their overweight rating on shares of WisdomTree Investments (NASDAQ: WETF) in a report released on Tuesday. Piper Jaffray currently has a $11.50 target price on the stock, up from their previous target price of $9.50.
“WETF has clearly enjoyed a strong start to 2013 with YTD net inflows of $5.2B exceeding full-year 2012 inflows of $4.7B. This has been primarily driven by strength of its Japan Hedged Equity Fund (DXJ), which has ~$3.5B of net inflows YTD. We are marking our model to market to reflect YTD performance, and raising our 2013E ending AUM to $27.5B from $25.8B. Based on a conservative avg fee of 53 bps (54 bps avg YTD), we are raising our 2013E revenue to $133.3M from $121.3M.,” Piper Jaffray’s analyst wrote.
Separately, analysts at Citigroup reiterated a buy rating on shares of WisdomTree Investments in a research note to investors on Monday, December 31st.
One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. WisdomTree Investments has an average rating of Buy and an average target price of $9.75.
Shares of WisdomTree Investments (NASDAQ: WETF) traded down 2.45% during mid-day trading on Tuesday, hitting $10.555. WisdomTree Investments has a 52 week low of $1.75 and a 52 week high of $8.50. The stock’s 50-day moving average is currently $6.63. The company has a market cap of $1.322 billion and a P/E ratio of 135.25.
WisdomTree Investments, Inc. is an asset management company that focuses on exchange-traded funds (NASDAQ: WETF).
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