Wealthfront (NASDAQ:WLTH) Receives $12.33 Consensus Target Price from Brokerages

Shares of Wealthfront (NASDAQ:WLTH) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.3333.

Several brokerages have recently commented on WLTH. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $9.50 target price (down from $13.50) on shares of Wealthfront in a research note on Thursday, March 12th. JPMorgan Chase & Co. reduced their target price on Wealthfront from $16.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Citizens Jmp reduced their target price on Wealthfront from $20.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, March 16th. Weiss Ratings began coverage on Wealthfront in a research note on Wednesday, March 11th. They set a “sell (d)” rating for the company. Finally, The Goldman Sachs Group reduced their price target on Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, March 12th.

Institutional Trading of Wealthfront

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in shares of Wealthfront during the 4th quarter worth $4,396,000. Teacher Retirement System of Texas acquired a new position in shares of Wealthfront during the 4th quarter worth $2,310,000. Dag Ventures LLC acquired a new position in shares of Wealthfront during the 4th quarter worth $187,725,000. Seven Grand Managers LLC acquired a new position in shares of Wealthfront during the 4th quarter worth $2,038,000. Finally, UBS Group AG acquired a new position in shares of Wealthfront during the 4th quarter worth $2,243,000.

Wealthfront Trading Up 2.3%

NASDAQ:WLTH opened at $12.22 on Tuesday. Wealthfront has a fifty-two week low of $7.20 and a fifty-two week high of $14.88. The company’s 50-day simple moving average is $10.54.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings data 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 firm had revenue of $96.14 million during the quarter, compared to analyst estimates of $91.95 million. As a group, equities analysts expect that Wealthfront will post 0.46 EPS for the current fiscal year.

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.