Wells Fargo & Company Issues Pessimistic Forecast for Wealthfront (NASDAQ:WLTH) Stock Price

Wealthfront (NASDAQ:WLTHGet Free Report) had its price target reduced by equities researchers at Wells Fargo & Company from $12.50 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 52.67% from the company’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. started coverage on Wealthfront in a research report on Tuesday, January 6th. They set an “overweight” rating and a $16.00 price objective for the company. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $9.50 price target (down from $13.50) on shares of Wealthfront in a research note on Thursday. Royal Bank Of Canada cut their price target on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 9th. Finally, Zacks Research raised Wealthfront to a “hold” rating in a research note on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Wealthfront presently has an average rating of “Hold” and an average price target of $12.67.

Check Out Our Latest Report on WLTH

Wealthfront Price Performance

Shares of NASDAQ:WLTH opened at $7.86 on Thursday. The stock’s fifty day moving average is $8.59. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88.

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

Institutional Trading of Wealthfront

Several hedge funds have recently made changes to their positions in WLTH. Realta Investment Advisors bought a new position in shares of Wealthfront in the 4th quarter valued at about $194,000. Teacher Retirement System of Texas bought a new stake in Wealthfront during the fourth quarter worth approximately $2,310,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Wealthfront during the fourth quarter valued at approximately $453,000. UBS Group AG purchased a new stake in Wealthfront during the fourth quarter valued at approximately $2,243,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Wealthfront in the 4th quarter valued at approximately $326,000.

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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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