WisdomTree Investments Now Covered by Analysts at Jefferies Group (WETF)
Jefferies Group assumed coverage on shares of WisdomTree Investments (NASDAQ:WETF) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $15.00 price target on the stock. Jefferies Group’s target price suggests a potential upside of 34.77% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of WETF with a Buy rating and a $15 price target. As the only publicly traded pure-play ETF manager, WETF stands to benefit from the trend away from active management to passive investing. With an innovative team, industry leading organic growth, and a diverse product set, we expect the company to continue growing well above the industry average.”
WisdomTree Investments (NASDAQ:WETF) traded up 4.13% during mid-day trading on Wednesday, hitting $11.59. 233,018 shares of the company’s stock traded hands. WisdomTree Investments has a 1-year low of $5.71 and a 1-year high of $14.13. The stock’s 50-day moving average is $12.27 and its 200-day moving average is $11.5. The company has a market cap of $1.460 billion and a P/E ratio of 53.00.
WisdomTree Investments (NASDAQ:WETF) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $37.30 million for the quarter, compared to the consensus estimate of $37.27 million. The company’s quarterly revenue was up 82.8% on a year-over-year basis. On average, analysts predict that WisdomTree Investments will post $0.34 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna reiterated a “neutral” rating on shares of WisdomTree Investments in a research note to investors on Wednesday. They now have a $12.00 price target on the stock, down previously from $13.00. Separately, analysts at Morgan Stanley cut their price target on shares of WisdomTree Investments from $13.50 to $12.50 in a research note to investors on Thursday, October 3rd. They now have an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $14.17.
WisdomTree Investments, Inc is an asset management company that focuses on exchange-traded funds (NASDAQ:WETF).
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