Wealthfront’s (NASDAQ:WLTH) Quiet Period Set To Expire on January 21st

Wealthfront’s (NASDAQ:WLTH) quiet period will expire on Wednesday, January 21st. Wealthfront had issued 34,615,384 shares in its public offering on December 12th. The total size of the offering was $484,615,376 based on an initial share price of $14.00. During Wealthfront’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several research firms have recently issued reports on WLTH. Wall Street Zen cut shares of Wealthfront from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company lowered their price target on Wealthfront from $16.50 to $15.50 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.

Wealthfront Stock Down 1.1%

Shares of NASDAQ WLTH opened at $10.15 on Friday. Wealthfront has a twelve month low of $9.70 and a twelve month high of $14.88.

Wealthfront (NASDAQ:WLTH) last announced its earnings results on Monday, January 12th. The company reported $0.21 EPS for the quarter. The business had revenue of $93.22 million during the quarter.

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.