Wealthfront’s Quiet Period Will Expire Tomorrow (NASDAQ:WLTH)

Wealthfront’s (NASDAQ:WLTH) quiet period will end 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 the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

A number of 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 note on Thursday, January 15th. Zacks Research upgraded Wealthfront to a “hold” rating in a research report on Thursday, January 15th. Finally, Wells Fargo & Company decreased their target price on Wealthfront from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Wealthfront Price Performance

Wealthfront stock opened at $9.50 on Tuesday. Wealthfront has a 1 year low of $9.45 and a 1 year high of $14.88.

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

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.