McAfee Raises $740M In IPO
Cybersecurity company McAfee Corp, on Wednesday, announced it is pricing 37 million class A common stock shares in its initial public offering at $20 per share.
Benzinga · 6d ago
US Leads Global IPO Boom
Despite political and economic uncertainty, U.S. exchanges still lead IPO activity in terms of the number of deals and total proceeds.
Investopedia · 10/19 03:34
A Tale of 3 IPO Stocks; 2 to Buy and 1 to Avoid
Perhaps the most exciting aspect of the stock market is its dynamism. The trading environment is in a constant state of flux, whether it’s the daily shifts in price, the longer changes in market trends, or, most exciting for investors, the entry of new stocks into the game. IPOs have always attracted attention, for good reason – they introduce new players, add new variables, and open new opportunities.But not all IPOs are created equal. Some companies make instant waves while others slide by under the radar. Some companies just don’t impress investors, and fail to sell all the offered shares, while others sell out and have to offer more. And some stocks make their debut with the wrong pricing – up or down, market forces will make that correction in short order. Investors should love IPOs – and should practice due diligence.And that’s where research firm BTIG comes in. The firm's analysts have been looking under the hood of several newly public companies. Three of these companies held their public offerings just this past September. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to get the lowdown on what the near-term holds for these IPO players.Sumo Logic (SUMO)First up is Sumo Logic, a data analytics company offering cloud-based services in security and operations for business intelligence apps. Sumo Logic started trading on the NASDAQ index on September 17, with an opening price of $22 per share. That was above the $17 to $21 range expected, and set a strong tone for the IPO. In all, the company sold 14.8 million shares in the initial offering, plus another 2.22 million when the underwriters exercised their purchase option. The sale brought in $374.4 million. Sumo is prime example of a successful IPO, attracting investors and brining the company’s total market cap to $2.19 billion in its wake. Initiating coverage of this stock for BTIG, 5-star analyst Gray Powell describes SUMO as ‘heavy-caliber.’ “We think that machine data analytics platforms like SUMO’s should benefit as companies increasingly adopt digital transformation strategies. In our opinion, SUMO is well positioned on this theme… it is the only pure play multi-tenant cloud-native company with a focus on the IT monitoring and Security Information and Event Management markets… we see a compelling long-term growth opportunity,” Powell opined.In line with his bullish comments, Powell rates the stock a Buy, and his $29 price target suggests a 31% one-year upside potential. (To watch Powell’s track record, click here)In its short time on the public markets, SUMO has garnered 5 Buy reviews and 3 Holds, making the analyst consensus rating a Moderate Buy. The stock is priced at $22.19; it has an average price target of $28.29, giving it a 27.5% upside for the coming 12 months. (See SUMO stock analysis on TipRanks)Broadstone Net Lease (BNL)The next stock on our list is a real estate investment trust with a long history in private ownership. Broadstone acquires, for ownership and management, a wide-ranging portfolio of commercial real estate properties occupied by single tenants on long-term net leases. At the end of 2Q20, shortly before the IPO, Broadstone boasted 633 properties, mainly in the US but one in Canada, valued at some $4 billion. The company acquires properties in the healthcare, industrial, office, restaurant, and retail sectors.In the IPO, which saw stock sales start on September 17, Broadstone opened at $17 per share and sold the 33.5 million shares expected. As in many successful IPOs, the underwriters are exercising their option, buying up an additional 5.025 million shares. The net proceeds from the IPO reached $533.5 million.In his initiation report for BTIG, analyst Michael Gorman noted Broadstone’s history but was particularly impressed by the stability and diversity of the portfolio. “The company recently completed its initial public offering but has assembled a 13-year track record of solid cash flows and growth as a private company. Moreover, while BNL does not specifically focus on investment-grade tenancy, it pursues a strategy designed to promote cash flow stability… At both the geographic and tenant-level the company has one of the most diversified portfolios, which is also likely to drive stability,” Gorman wrote.Gorman’s $20 price target implies an 18% upside for the stock, and supports his Buy rating. (To watch Gorman’s track record, click here)Overall, Broadstone has a Strong Buy rating from the analyst consensus, and it is unanimous – no fewer than 7 reviewers have given this stock the thumbs up. Shares are currently trading at $16.98, and the $20.71 average price target suggests it has room for 21% growth in the year ahead. (See BNL stock analysis on TipRanks)Snowflake (SNOW)Last and least is Snowflake, a software provider in the cloud-based data segment. Snowflake is a Silicon Valley tech company, valued at $67.5 billion. It started trading on September 16, and like the stocks above, its IPO was successful. The company saw investors pick up 28 million shares, at an opening price of $120, plus another 4.2 million purchased by the underwriters. The $3.36 billion raised by the sale made this the year’s largest IPO so far, an impressive feat given the ongoing pandemic crisis.Since opening at $120 per share, SNOW stock has doubled in price. Investors are clearly gravitating toward this software company. The company estimates >$560 million in revenue for FY21, for 114% growth year-over-year, and forward projections show the top line number hitting $1.75 billion within two years. Indeed, growth rates like that don’t come around every day.Rapid growth, however, also brings a drawback – investors must wonder if SNOW shares are close to maxing out their value. That is the key factor in analyst Gray Powell’s Neutral rating on SNOW.The BTIG analyst noted, “We believe SNOW is sitting in front of a very large secular growth opportunity as workloads migrate to cloud environments at an accelerating pace and customers increasingly look to utilize machine data to make better business decisions.” However, “We see limited upside and would await a better entry point on the stock.”Overall, Snowflake has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 22 analysts polled in the last 3 months, 9 are bullish, 11 remain sidelined, while 2 are bearish on the stock. With a modest 8.5% upside potential, the stock's consensus target price stands at $265.67. (See SNOW stock analysis on TipRanks)To find good ideas for IPO stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
TipRanks · 10/16 20:01
Sumo Logic Stock Slides Because Growth Is Slowing
Shares of real-time-analytics firm Sumo Logic slumped after the three investment banks that led its IPO rated Sumo at Neutral or Hold ratings. · 10/12 21:31
Q3 The Busiest Since 2014 For IPOs, Led By Unicorns, SPACs
The third quarter saw 86 companies go public via a traditional IPO. In the third quarter, 165 special purpose acquisition companies also raised funds. Breaking Down IPO Trends: Health care and technology were the two largest sectors in the third quarter for funds raised.
Benzinga · 10/12 19:25
Sumo Logic quiet period ends with bulls praising differentiation, 25% growth potential
Cowen initiates Sumo Logic (SUMO) at Outperform and a $31 price target, saying the company's "modern approach" has it "skating to where the puck is going."Analyst J. Derrick Wood thinks SUMO
Seekingalpha · 10/12 14:42
RBC Capital Initiates Coverage On Sumo Logic with Outperform Rating, Announces Price Target of $30
RBC Capital analyst Matthew Hedberg initiates coverage on Sumo Logic (NASDAQ:SUMO) with a Outperform rating and announces Price Target of $30.
Benzinga · 10/12 09:12
JP Morgan Initiates Coverage On Sumo Logic with Neutral Rating, Announces Price Target of $24
JP Morgan initiates coverage on Sumo Logic (NASDAQ:SUMO) with a Neutral rating and announces Price Target of $24.
Benzinga · 10/12 09:07
U.S. IPO Week Ahead: Healthcare, Solar Panels, And Chinese Retail In A 9 IPO Week
Five biotechs, two medical device makers, a solar panel mounting manufacturer, and a Chinese retailer are scheduled to raise $2.0 billion in the week ahead.Several companies could join the IPO calendar early in the week, including McAfee and Datto Holding.Street research is expected for 15 companies.The lock-up for Renalytix AI will be expiring on Thursday, 10/15.
Seekingalpha · 10/11 20:55
Sumo Logic underwriters' option fully exercised
Sumo Logic (SUMO) announces that the underwriters' option to purchase additional 2.2M shares at the initial public offering price of $22.00 per share is exercised.A total of 17M shares have been
Seekingalpha · 10/09 20:12
Sumo Logic Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares
Sumo Logic Sumo Logic | See Business DifferentlyREDWOOD CITY, Calif., Oct. 09, 2020 (GLOBE NEWSWIRE) -- Sumo Logic, Inc. (“Sumo Logic”; NASDAQ: SUMO) today announced that the underwriters of its initial public offering exercised in full their option to purchase an additional 2,220,000 shares of its common stock at the initial public offering price of $22.00 per share, less underwriting discounts and commissions. A total of 17,020,000 shares have now been sold in the offering by Sumo Logic. As a result, Sumo Logic has received total gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Sumo Logic, of $374.4 million. Morgan Stanley and J.P. Morgan acted as lead book-running managers for the offering. RBC Capital Markets and Jefferies acted as book-running managers for the offering, and William Blair, Cowen, Piper Sandler and BTIG acted as co-managers for the offering.A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on September 16, 2020. This offering was made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at; RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at 877-822-4089 or by email at; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Sumo LogicSumo Logic is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy.Media Contact: Melissa Liton Sumo Logic (650) 814-3882Investor Relations Contact: Paul Thomas (650) 241-3847A photo accompanying this announcement is available at
GlobeNewswire · 10/09 20:03
Sumo Logic gains on new innovations highlighted at user conference
Sumo Logic's ([[SUMO]] +5.0%) President and CEO Ramin Sayar highlighted the broad cloud-native, analytics functionality across DevSecOps use cases, in his opening keynote at fourth annual Illuminate user conference.He talked about the new
Seekingalpha · 10/07 13:57
Sumo Logic Showcases Innovations to Fuel Digital Business Success
New Product Solutions and Enhancements Help Transform the Data Deluge into Continuous Intelligence to Further Drive Reliable and Secure Customer Experiences Sumo Logic | Illuminate Conference Sumo Logic Illuminate Conference: October 6 - 7, 2020REDWOOD CITY, Calif., Oct. 07, 2020 (GLOBE NEWSWIRE) --
GlobeNewswire · 10/07 13:00
Sumo Logic Hosts 4th Annual Illuminate User Conference - Virtually
Company Reinforces Commitment to Community and Ecosystem with New Initiatives to Harness the Power of Continuous Intelligence and Accelerate Digital Transformation Sumo Logic | Illuminate Conference Sumo Logic Illuminate Conference: October 6 - 7, 2020REDWOOD CITY, Calif., Oct. 06, 2020 (GLOBE NEWSWIRE
GlobeNewswire · 10/06 14:00
Sumo Logic-Can It Do The Heavy Lifting Required To Achieve Success In A Crowded Space
Sumo Logic is a recent IPO that appears reasonably valued.It is trading below its IPO price.The company's growth has been greatly impacted by the effects of the pandemic on the  economy.The company appears to have impressive technology with a modern, cloud native architecture desired by many users.Trying to build a company competing against Splunk, Elastic and Datadog is a daunting undertaking but the potential rewards are equally significant.
Seekingalpha · 10/02 15:30
Meltdown-Resistant Tech Stocks
Big Tech reached record highs after the March lows. But the wheel of fortune keeps turning, and tech has been mostly rangebound for the last month. However, even if trading range continues there are stocks that are companies more insulated than others and should be bought regardless of the stock's performance.   Amazon
Benzinga · 09/30 15:39
McAfee Files For Nasdaq IPO, Amid String Of Software Listings
McAfee Corp, on Monday, filed an S-1 form with the U.S.
Benzinga · 09/29 03:04
The Cloud IPO Pipeline
Public equity investors in cloud stocks are watching developments from the private markets carefully - particularly as many of the private companies look at valuations in the public markets as a good time to issue shares.At the time of this writing, five companies have completed or are nearing the tail end of the IPO process.Over the long term, we view growth of the public cloud universe, both in count and total market capitalization, as a positive development.
Seekingalpha · 09/26 11:44
Digital Healthcare Services Provider GoodRx Surges 53% On Trading Debut
The shares of GoodRx Holdings Inc. (NASDAQ: GDRX) skyrocketed on the first day of trading at the Nasdaq Stock Market on Wednesday.
Benzinga · 09/24 02:27
Is Now a Good Time to Buy Stock in Recent IPO Sumo Logic? · 09/22 07:45
Webull provides a variety of real-time SUMO stock news. You can receive the latest news about Sumo Logic, Inc. through multiple platforms. This information may help you make smarter investment decisions.
About SUMO
Sumo Logic, Inc., is a machine data analytics company. The Company’s intelligence platform enables organizations to find the solutions through digital transformation, applications, and cloud computing. Its Intelligence Platform also enables organizations to automate the collection, ingestion, and analysis of application, infrastructure, security, and Internet of things (IoT) data. Its Intelligence Platform leverages artificial intelligence and machine learning capabilities and is provided as a multi-tenant cloud service that allows organizations to deliver applications and digital services, protect against security threats, and its business processes in real time. This allows employees across the lines of business, development, information technology (IT), and security teams with the data and insights needed to address the technology and collaboration required for business.