Keefe, Bruyette & Woods Cuts Wealthfront (NASDAQ:WLTH) Price Target to $13.50

Wealthfront (NASDAQ:WLTH) had its price objective cut by Keefe, Bruyette & Woods from $16.50 to $13.50 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also weighed in on WLTH. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada cut their price objective on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday. The Goldman Sachs Group set a $12.00 target price on Wealthfront in a report on Tuesday, January 20th. Zacks Research upgraded Wealthfront to a “hold” rating in a research report on Thursday, January 15th. Finally, Wells Fargo & Company dropped their price target on Wealthfront from $15.50 to $12.50 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Wealthfront currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Wealthfront Price Performance

Wealthfront stock opened at $8.40 on Monday. Wealthfront has a 1 year low of $7.20 and a 1 year 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 company had revenue of $93.22 million for the quarter.

Hedge Funds Weigh In On Wealthfront

Institutional investors have recently added to or reduced their stakes in the stock. Tiger Global Management LLC acquired a new position in Wealthfront during the fourth quarter worth $205,982,000. Dag Ventures LLC acquired a new stake in shares of Wealthfront in the 4th quarter worth $187,725,000. Index Venture Associates VI Ltd acquired a new stake in shares of Wealthfront in the 4th quarter worth $128,567,000. Wellington Management Group LLP purchased a new position in shares of Wealthfront during the 4th quarter worth $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Wealthfront during the 4th quarter valued at about $31,136,000.

About Wealthfront

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.