PICS’s Quiet Period To End on March 10th (NASDAQ:PICS)

PICS’s (NASDAQ:PICS) quiet period is set to expire on Tuesday, March 10th. PICS had issued 22,857,143 shares in its IPO on January 29th. The total size of the offering was $434,285,717 based on an initial share price of $19.00. During PICS’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports 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.

Wall Street Analyst Weigh In

PICS has been the subject of several research reports. Wall Street Zen downgraded PICS from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Mizuho assumed coverage on shares of PICS in a research report on Monday, February 23rd. They set an “outperform” rating and a $30.00 price target on the stock. Zacks Research raised shares of PICS to a “hold” rating in a research note on Wednesday, February 25th. Citigroup assumed coverage on shares of PICS in a research note on Monday, February 23rd. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Royal Bank Of Canada started coverage on shares of PICS in a report on Monday, February 23rd. They issued an “outperform” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, PICS presently has a consensus rating of “Buy” and a consensus price target of $25.50.

PICS Stock Performance

Shares of PICS opened at $14.13 on Friday. PICS has a 1 year low of $12.80 and a 1 year high of $19.95.