Wells Fargo & Company Raises Wealthfront (NASDAQ:WLTH) Price Target to $13.00

Key Points

• Wells Fargo & Company raised its price target on Wealthfront from $12.00 to $13.00 and kept an overweight rating, implying about a 14.3% upside from the prior close.
• Analyst coverage is mixed — four Buys, four Holds and one Sell — resulting in a consensus rating of Hold and an average target price of $12.33.
• Wealthfront reported Q EPS of ($1.31), missing estimates while revenue beat, and the stock traded at $11.37 (50‑day MA $9.28); institutional buyers including T. Rowe Price and Invesco have recently added stakes.

Wealthfront (NASDAQ:WLTH - Get Free Report) had its price objective raised by research analysts at Wells Fargo & Company from $12.00 to $13.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 14.34% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Wealthfront from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Citizens Jmp reduced their price target on shares of Wealthfront from $20.00 to $17.00 and set a "market outperform" rating on the stock in a research report on Monday, March 16th. KeyCorp assumed coverage on shares of Wealthfront in a research report on Tuesday, January 6th. They set a "sector weight" rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Wealthfront from $16.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, March 12th. Finally, Royal Bank Of Canada cut their target price on shares of Wealthfront from $17.00 to $14.00 and set an "outperform" rating on the stock in a research 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 company. According to data from MarketBeat, Wealthfront currently has a consensus rating of "Hold" and an average target price of $12.33.

Wealthfront Stock Performance

Shares of WLTH traded up $0.60 during trading hours on Monday, hitting $11.37. The stock had a trading volume of 530,524 shares, compared to its average volume of 1,513,002. The company's fifty day moving average price is $9.28. Wealthfront has a 52 week low of $7.20 and a 52 week high of $14.88.

Wealthfront (NASDAQ:WLTH - Get 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 for the quarter, compared to analyst estimates of $91.95 million. As a group, sell-side analysts anticipate that Wealthfront will post 0.46 EPS for the current fiscal year.

Institutional Trading of Wealthfront

A number of hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its position in shares of Wealthfront by 71.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 57,262 shares of the company's stock valued at $530,000 after acquiring an additional 23,902 shares during the period. Strs Ohio acquired a new stake in Wealthfront during the 1st quarter worth $56,000. T. Rowe Price Investment Management Inc. acquired a new stake in Wealthfront during the 4th quarter worth $31,136,000. Invesco Ltd. acquired a new stake in Wealthfront during the 4th quarter worth $13,590,000. Finally, XTX Topco Ltd acquired a new stake in Wealthfront during the 4th quarter worth $485,000.

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.

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