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

Wealthfront (NASDAQ:WLTHGet Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $16.00 to $10.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.01% from the stock’s previous close.

Several other research firms have also commented on WLTH. Zacks Research raised Wealthfront to a “hold” rating in a report on Thursday, January 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.50 price objective (down from $13.50) on shares of Wealthfront in a research report on Thursday. Royal Bank Of Canada dropped their price objective on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, 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. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Wealthfront presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

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Wealthfront Stock Performance

NASDAQ WLTH traded down $0.46 on Thursday, reaching $7.94. 2,484,615 shares of the company’s stock traded hands, compared to its average volume of 1,506,053. 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 for the quarter, missing the consensus estimate of ($1.24) by ($0.07). The business had revenue of $96.14 million during the quarter, compared to the consensus estimate of $91.95 million.

Hedge Funds Weigh In On Wealthfront

A number of institutional investors and hedge funds have recently modified their holdings of WLTH. Tiger Global Management LLC purchased a new position in Wealthfront in the fourth quarter valued at $205,982,000. Dag Ventures LLC purchased a new stake in Wealthfront during the 4th quarter worth about $187,725,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront during the 4th quarter worth about $128,567,000. Wellington Management Group LLP purchased a new position in shares of Wealthfront in the 4th quarter valued at about $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Wealthfront during the 4th quarter worth about $31,136,000.

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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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