Citizens Jmp Has Lowered Expectations for Wealthfront (NASDAQ:WLTH) Stock Price

Key Points

• Citizens Jmp trimmed its price objective on Wealthfront from $20 to $17 while keeping a "market outperform" rating, even as the analyst consensus sits at a "Hold" with a $12.17 average target.
• Wealthfront shares opened at $7.86 (12‑month range $7.20–$14.88) and the company reported an EPS of ($1.31), missing estimates by $0.07 while beating revenue expectations with $96.14 million.
• Despite mixed analyst revisions, major institutional investors including Tiger Global, Dag Ventures, Index Venture Associates, Wellington, and T. Rowe Price established sizable new stakes in the fourth quarter, signaling significant institutional inflows.

Wealthfront (NASDAQ:WLTH - Get Free Report) had its price objective dropped by equities researchers at Citizens Jmp from $20.00 to $17.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 116.28% from the stock's current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Wealthfront from $16.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday. KeyCorp started coverage on Wealthfront in a report on Tuesday, January 6th. They set a "sector weight" rating on the stock. The Goldman Sachs Group dropped their price target on shares of Wealthfront from $12.00 to $10.50 and set a "neutral" rating on the stock in a research report on Thursday. Zacks Research upgraded shares of Wealthfront to a "hold" rating in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada dropped their target price on shares of Wealthfront from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.17.

Wealthfront Stock Down 0.3%

Wealthfront stock opened at $7.86 on Monday. Wealthfront has a 12-month low of $7.20 and a 12-month high of $14.88. The company has a 50 day moving average of $8.59.

Wealthfront (NASDAQ:WLTH - Get Free Report) last announced its earnings results on Wednesday, March 11th. The company reported ($1.31) 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 analysts' expectations of $91.95 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tiger Global Management LLC purchased a new stake in Wealthfront in the 4th quarter worth about $205,982,000. Dag Ventures LLC purchased a new position in Wealthfront during the 4th quarter valued at about $187,725,000. Index Venture Associates VI Ltd acquired a new position in shares of Wealthfront in the 4th quarter valued at about $128,567,000. Wellington Management Group LLP purchased a new stake in shares of Wealthfront in the fourth quarter worth approximately $54,182,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Wealthfront during the fourth quarter worth approximately $31,136,000.

About Wealthfront

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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