Wells Fargo & Company Cuts Wealthfront (NASDAQ:WLTH) Price Target to $12.50

Wealthfront (NASDAQ:WLTH) had its target price cut by Wells Fargo & Company from $15.50 to $12.50 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

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

Wealthfront Trading Down 3.4%

Shares of WLTH opened at $8.49 on Thursday. Wealthfront has a twelve month low of $7.20 and a twelve month high of $14.88.

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

Hedge Funds Weigh In On Wealthfront

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

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.