JPMorgan Chase & Co. Cuts Wealthfront (NASDAQ:WLTH) Price Target to $10.00

Wealthfront (NASDAQ:WLTHFree Report) had its target price lowered by JPMorgan Chase & Co. from $16.00 to $10.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also issued reports on WLTH. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada dropped their price objective on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 9th. The Goldman Sachs Group reduced their target price on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of Wealthfront from $12.50 to $12.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Zacks Research raised shares of Wealthfront to a “hold” rating in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.67.

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Wealthfront Price Performance

WLTH stock opened at $7.86 on Thursday. The stock has a 50 day moving average of $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 data on Wednesday, March 11th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The business had revenue of $96.14 million during the quarter, compared to analysts’ expectations of $91.95 million.

Hedge Funds Weigh In On Wealthfront

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

Key Wealthfront News

Here are the key news stories impacting Wealthfront this week:

Wealthfront Company Profile

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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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Analyst Recommendations for Wealthfront (NASDAQ:WLTH)

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