Wealthfront (NASDAQ:WLTH) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Wealthfront (NASDAQ:WLTHGet Free Report) had its price objective lowered by research analysts at Wells Fargo & Company from $12.50 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 42.86% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.50 price objective (down from $13.50) on shares of Wealthfront in a report on Thursday. Zacks Research raised shares of Wealthfront to a “hold” rating in a research report on Thursday, January 15th. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group set a $12.00 price target on shares of Wealthfront in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.88.

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Wealthfront Price Performance

WLTH opened at $8.40 on Thursday. Wealthfront has a one year low of $7.20 and a one year high of $14.88.

Wealthfront (NASDAQ:WLTHGet Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The firm had revenue of $96.14 million during the quarter, compared to analysts’ expectations of $91.95 million.

Hedge Funds Weigh In On Wealthfront

Institutional investors have recently added to or reduced their stakes in the company. FJ Capital Management LLC bought a new position in shares of Wealthfront in the 4th quarter worth about $4,270,000. Kennedy Capital Management LLC bought a new stake in Wealthfront during the fourth quarter worth about $5,208,000. Index Venture Associates VI Ltd purchased a new stake in Wealthfront in the fourth quarter worth about $128,567,000. Monashee Investment Management LLC bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $4,077,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $2,038,000.

Key Wealthfront News

Here are the key news stories impacting Wealthfront this week:

Wealthfront Company Profile

(Get Free Report)

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.

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