The Goldman Sachs Group Cuts Wealthfront (NASDAQ:WLTH) Price Target to $10.50

Wealthfront (NASDAQ:WLTHFree Report) had its target price lowered by The Goldman Sachs Group from $12.00 to $10.50 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also issued reports on WLTH. Wells Fargo & Company reduced their target price on Wealthfront from $12.50 to $12.00 and set an “overweight” rating on the stock in a report on Thursday. Wall Street Zen raised shares of Wealthfront from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $9.50 price objective (down from $13.50) on shares of Wealthfront in a research note on Thursday. KeyCorp started coverage on shares of Wealthfront in a report on Tuesday, January 6th. They issued a “sector weight” rating on the stock. Finally, Zacks Research upgraded shares of Wealthfront to a “hold” rating in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Wealthfront presently has an average rating of “Hold” and an average target price of $12.67.

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Wealthfront Trading Down 0.3%

Shares of WLTH opened at $7.86 on Thursday. Wealthfront has a 12 month low of $7.20 and a 12 month high of $14.88. The stock’s 50 day simple moving average is $8.59.

Wealthfront (NASDAQ:WLTHGet Free Report) last issued 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 company had revenue of $96.14 million during the quarter, compared to analyst estimates of $91.95 million.

Institutional Investors Weigh In On Wealthfront

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new position in Wealthfront during the 4th quarter worth approximately $44,000. Barclays PLC acquired a new stake in Wealthfront in the fourth quarter valued at approximately $136,000. Symmetry Investments LP acquired a new position in shares of Wealthfront during the fourth quarter worth $190,000. Realta Investment Advisors bought a new position in shares of Wealthfront in the 4th quarter valued at $194,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Wealthfront during the 4th quarter valued at $245,000.

Key Stories Impacting Wealthfront

Here are the key news stories impacting Wealthfront this week:

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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