Wealthfront (NASDAQ:WLTH) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

Wealthfront (NASDAQ:WLTH) had its price target cut by equities researchers at JPMorgan Chase & Co. from $13.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.32% from the company’s current price.

Several other analysts have also weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Wealthfront in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of Wealthfront from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Thursday, March 12th. Weiss Ratings initiated coverage on shares of Wealthfront in a research report on Wednesday, March 11th. They set a “sell (d)” rating for the company. Wells Fargo & Company increased their price objective on shares of Wealthfront from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Citizens Jmp cut their target price on shares of Wealthfront from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, March 16th. Four investment 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. According to data from MarketBeat.com, Wealthfront presently has an average rating of “Hold” and a consensus price target of $12.50.

Wealthfront Stock Performance

Shares of WLTH traded down $1.69 during midday trading on Friday, hitting $9.81. The company had a trading volume of 722,411 shares, compared to its average volume of 1,398,402. The firm has a 50 day moving average price of $10.85. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $90.48 million for the quarter. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Wealthfront will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Wealthfront

Hedge funds have recently bought and sold shares of the company. Tiger Global Management LLC acquired a new stake in shares of Wealthfront in the fourth quarter worth $205,982,000. Dag Ventures LLC acquired a new position in Wealthfront in the 4th quarter valued at $187,725,000. Index Venture Associates VI Ltd bought a new position in Wealthfront in the 4th quarter worth $128,567,000. Wellington Management Group LLP acquired a new position in Wealthfront during the 4th quarter worth $54,182,000. Finally, North Reef Capital Management LP boosted its holdings in Wealthfront by 135.2% during the first quarter. North Reef Capital Management LP now owns 2,885,257 shares of the company’s stock valued at $26,689,000 after acquiring an additional 1,658,624 shares during the period.

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.