Wells Fargo & Company Has Lowered Expectations for Wealthfront (NASDAQ:WLTH) Stock Price

Wealthfront (NASDAQ:WLTH) had its price target lowered by investment analysts at Wells Fargo & Company from $15.50 to $12.50 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 47.23% from the company’s current price.

A number of other brokerages also recently weighed in on WLTH. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. The Goldman Sachs Group set a $12.00 price objective on Wealthfront in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded Wealthfront to a “hold” rating in a research report on Thursday, January 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Wealthfront Stock Down 3.4%

Shares of NASDAQ WLTH opened at $8.49 on Thursday. Wealthfront has a 52-week low of $7.20 and a 52-week high of $14.88.

Wealthfront (NASDAQ:WLTH) last posted its quarterly earnings data on Monday, January 12th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $93.22 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Realta Investment Advisors acquired a new stake in Wealthfront in the fourth quarter worth $194,000. Teacher Retirement System of Texas bought a new stake in Wealthfront in the fourth quarter valued at $2,310,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Wealthfront during the fourth quarter valued at about $453,000. UBS Group AG acquired a new position in shares of Wealthfront during the fourth quarter valued at about $2,243,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Wealthfront during the 4th quarter worth about $326,000.

Wealthfront Company Profile

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.