Citizens Jmp Cuts Wealthfront (NASDAQ:WLTH) Price Target to $17.00

Wealthfront (NASDAQ:WLTH) had its price objective lowered by Citizens Jmp from $20.00 to $17.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Wealthfront from $16.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. KeyCorp assumed coverage on Wealthfront in a research note on Tuesday, January 6th. They set a “sector weight” rating for the company. Royal Bank Of Canada cut their price target on Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. Wall Street Zen raised Wealthfront from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on Wealthfront from $12.50 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.17.

Wealthfront Stock Up 3.6%

Shares of WLTH stock opened at $8.14 on Monday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The company has a 50 day simple moving average of $8.55.

Wealthfront (NASDAQ:WLTH) last released its 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 Investors Weigh In On Wealthfront

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new position in Wealthfront in the fourth quarter valued at approximately $44,000. Barclays PLC purchased a new stake in shares of Wealthfront during the 4th quarter worth approximately $136,000. Symmetry Investments LP purchased a new stake in shares of Wealthfront during the 4th quarter worth approximately $190,000. Realta Investment Advisors acquired a new position in shares of Wealthfront in the 4th quarter valued at $194,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Wealthfront in the 4th quarter valued at $245,000.

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.