Wealthfront (NASDAQ:WLTH) Price Target Lowered to $10.00 at JPMorgan Chase & Co.

Wealthfront (NASDAQ:WLTHGet Free Report) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $16.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 26.01% from the company’s previous close.

Several other analysts have also recently commented on WLTH. Zacks Research raised Wealthfront to a “hold” rating in a report on Thursday, January 15th. Royal Bank Of Canada reduced their price target on shares of Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their price objective on shares of Wealthfront from $12.50 to $12.00 and set an “overweight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.50 price objective (down from $13.50) on shares of Wealthfront in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Wealthfront currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

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Wealthfront Price Performance

Shares of Wealthfront stock traded down $0.46 on Thursday, reaching $7.94. The company’s stock had a trading volume of 2,484,615 shares, compared to its average volume of 1,506,053. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTHGet Free Report) last announced its earnings results on Wednesday, March 11th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The business had revenue of $96.14 million for the quarter, compared to analyst estimates of $91.95 million.

Institutional Trading of Wealthfront

A number of large investors have recently modified their holdings of WLTH. Azora Capital LP bought a new position in Wealthfront during the 4th quarter worth about $4,084,000. Element Capital Management LLC bought a new stake in shares of Wealthfront in the 4th quarter valued at about $1,278,000. Dragoneer Investment Group LLC purchased a new stake in shares of Wealthfront in the 4th quarter worth approximately $8,892,000. FJ Capital Management LLC purchased a new stake in shares of Wealthfront in the 4th quarter worth approximately $4,270,000. Finally, Index Venture Associates VI Ltd bought a new position in shares of Wealthfront during the fourth quarter valued at approximately $128,567,000.

Key Stories Impacting Wealthfront

Here are the key news stories impacting Wealthfront this week:

About Wealthfront

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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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