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

Wealthfront (NASDAQ:WLTH) had its target price reduced by Citizens Jmp from $20.00 to $17.00 in a research note published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. The Goldman Sachs Group cut their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, March 12th. KeyCorp started coverage on Wealthfront in a research note on Tuesday, January 6th. They set a “sector weight” rating on the stock. Wells Fargo & Company decreased their price objective on Wealthfront from $12.50 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Finally, Royal Bank Of Canada lowered their price objective on Wealthfront from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Wealthfront currently has an average rating of “Hold” and a consensus price target of $12.17.

Wealthfront Price Performance

Shares of WLTH stock opened at $7.93 on Monday. The company has a 50-day moving average price of $8.58. 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 Wednesday, March 11th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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

A number of institutional investors have recently bought and sold shares of the stock. Sandia Investment Management LP purchased a new position in Wealthfront during the fourth quarter worth approximately $44,000. Barclays PLC acquired a new position in shares of Wealthfront in the 4th quarter valued at $136,000. Symmetry Investments LP purchased a new stake in shares of Wealthfront during the 4th quarter valued at $190,000. Realta Investment Advisors acquired a new stake in shares of Wealthfront during the 4th quarter worth $194,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Wealthfront during the 4th quarter worth $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.