|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||25.79|
Fastly, Inc. , provider of an edge cloud platform, today announced that it will report its financial results for the second quarter ended June 30, 2019 after market close on Thursday, August 8, 2019.
Across the globe, 23 startups achieved unicorn status in the second quarter, of which 19 are in the U.S. Bay Area startups accounted for nearly half of all unicorns created worldwide.
The $165.2 billion exit value from IPOs and M&A; in the first half of this year has already surpassed every full year total on record, according to PitchBook Data and the National Venture Capital Association. Here are the Bay Area's 10 biggest exits in Q2.
The cloud-based enterprise software company that uses artificial intelligence to offer customer predictions and insights revealed its IPO pricing range Monday, with its valuation coming in a tad below its last funding round.
Actions speak louder than words, as the saying goes. And when it comes to insiders, that certainly seems to be the case. If we track informative insider buy transactions, we can get an idea of the stocks that insiders see as compelling investing opportunities right now. As insiders have access to a wealth of company information, these insights can be very valuable when deciding which stocks to buy or sell. With that in mind we took a closer look at three stocks insiders are snapping up right now: Immunomedics (IMMU)Immunomedics focuses on the development of antibody-drugs for the treatment of cancer. Most notably sacituzumab has received Breakthrough Therapy designation from the FDA for the treatment of patients with triple-negative breast cancer (TNBC) who failed previous therapies. It’s also granted the drug fast track designation for lung cancer treatment. Shares have surged 12% in the last five days, and that’s partly down to an influx of insider money. Most notably, corporate director and owner venBio Select Advisor LLC recently picked up a whopping $13.5 million worth of stock. That brings venBio’s total holding of IMMU to just over $298 million. And it’s not just insiders that are bullish. The stock also shows a ‘Strong Buy’ analyst consensus with an average price target of $23- indicating that further upside potential of 54% lies ahead. “As we expect sacituzumab to address a major unmet need in the treatment of r/r mTNBC [metastatic triple negative breast cancer] next year, we continue to think that IMMU is undervalued for its potential” comments Cowen & Co analyst Phil Nadeau. “We continue to expect sacituzumab will become a standard mTNBC treatment upon its approval” the analyst added. He notes that Daiichi’s DS-1062a has the potential to be long-term competition to IMMU's sacituzumab- but reassures investors that IMMU is clearly well ahead. “Given sacituzumab's several-year lead, it will be incumbent upon DS-1062a to show meaningful advantages in order to displace it” the analyst writes. Fastly Inc (FSLY)Cloud computing services provider Fastly is a newcomer to the markets. The company, which helps companies deliver online content more quickly, debuted on the NYSE back in May. Its IPO was a great success; the company sold 11.25 million shares at $16 each, bringing returns of $180 million. Since the IPO shares have surged to the current price of $20.55.And now we can see that insiders are already pouring more money into this fast-growing tech stock. Abdiel Capital Management, one of the company’s owners, has just picked up a further $7.62 million of FSLY stock. This brings the total holding to $78.8 million. No doubt this move would make sense to five-star analyst Brad Reback of Stifel Nicolaus. He initiated coverage of the stock with a buy rating and $25 price target (22% upside potential). The analyst contends: “In the coming years, we believe Fastly can leverage its superior technological approach to drive continued strong net new customer additions and expand its wallet share among its existing installed base.” Combined with a large market opportunity and the ability to further penetrate international markets, Reback is confident that Fastly can sustain at least a 30% top-line growth profile. Myovant Sciences (MYOV)Myovant Sciences is a clinical-stage biopharma developing therapies for women’s health and endocrine diseases. Shares have crashed 47% year-to-date, with the selloff prompted by the release of relugolix phase 3 uterine fibroids data. Investors are concerned about Abbvie’s (ABBV) uterine fibroid rival, Orlissa.However, insiders are demonstrating their confidence in the company. In the last three months insiders have bought a whopping $160 million of shares. That includes a $45,000 purchase from director Sebelius Kathleen, as well as $20 million from owner Viking Global Investors. Indeed, all ten transactions in the last month are positive insider buy transactions- with only one insider sell transaction recorded four months ago.Furthermore, the Street is also staying onside. All five analysts covering the stock rate Myovant a ‘buy.’ That gives the stock its ‘Strong Buy’ analyst consensus. Meanwhile their average price target of $26 indicates massive upside potential of 194%. Analysts argue that the stock looks oversold at current levels, with Barclays analyst Geoffrey Meacham saying he still believes Myovant’s relugolix has a favorable profile compared to rival offerings. Meanwhile five-star Evercore ISI analyst Ravi Mehrotra is anticipating revenues of $944M for relugolix by 2023 due to its "commercial advantage of a one-a-day pill." Discover more Hot Insider Trading Stocks here
Not only will the investors be able to start selling their shares on these dates, but so will employees of the newly minted IPO companies.
The slate of IPOs in May alone have already raked in $15 billion, marking the most raised in one month since September 2014.
Fastly Inc (NYSE: FSLY ) has a growing addressable market and is focusing on driving strong new customer additions as well as forming partnerships to support its future growth, according to Stifel. The ...
The performances of the IPOs of consumer-facing internet stocks have certainly been mixed, as shown by the disappointing debuts of Uber Technologies (NYSE:UBER) and LYFT (NASDAQ:LYFT).Source: Shutterstock The IPOs of enterprise-cloud names have been the big winners. A notable example is Zoom Video Communications (NASDAQ:ZM), which is up a sizzling 145%. In fact, on Friday there was another hot cloud IPO, Fastly (NYSE:FSLY), which soared 50%.Yet there has been one consumer internet IPO that has bucked the bearish trend: Pinterest (NYSE:PINS) IPO. But unfortunately, even this company - which operates an online scrapbooking platform -- ran into some headwinds on Friday. Following its first quarterly report as a public company, Pinterest stock plunged 13% to $26.70. But PINS stock is still up about 22% since Pinterest IPO in mid-May.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNow the earnings report was fairly solid (actually, it was not too much of a surprise since PINS' registration form provided color on the quarter).So let's take a look at the quarter. Its sales jumped by 54% to $201.9 million, compared to analysts' consensus of $200.7 million. The company provided full-year, top-line guidance of $1.055 billion to $1.080 billion. Analysts, on the other hand, were looking for $1.07 billion.But the real issue - for Pinterest stock - was the bottom line. Consider that its net loss was $40 million. While that was a $7 million improvement over last year's results, the loss was a surprise for the owners of Pinterest stock. The adjusted loss was 32 cents per share of PINS stock, but analysts' average forecast was a profit of 11 cents per share.When companies are growing quickly, their expenses can pile up. Besides, as Pinterest CEO Ben Silbermann said in an interview with CNBC's Jim Cramer, the company is focused on its "long-term" outlook."And he has a point. The potential of PINS stock hinges on drivers that will take some time to get traction, such as: * International Growth: About 70% of the website's users are from outside the U.S. But its foreign revenues are still minimal, coming to only 7% of its total. And that was up from 5% in the same quarter of 2018. In other words, its overseas revenue can increase significantly. But penetrating foreign markets is far from easy. On the company's earnings call, Silbermann noted that its foreign revenue likely will not materially improve until some time next year. * Engagement: Silbermann also indicated that users generally go to Pinterest for a particular purpose and then will usually not come back. As a result, he is looking to invest in new features in an effort to boost engagement. But again, that will take time and could prove quite difficult. Just look at the struggles Twitter (NYSE:TWTR) has had with engagement. The Bottom Line on Pinterest StockThere are certainly long-term catalysts that should drive Pinterest's growth and help it reach profitability, boosting PINS stock in the process. It also helps that the company's user base jumped 22% last quarter to 291 million.The problem is that Pinterest stock already reflects much of the good news and then some. Keep in mind that PINS stock is trading at 17.5 times the company's sales. By comparison, Facebook (NASDAQ:FB) and TWTR trade at roughly nine times their sales.So Pinterest stock could drop further, especially as more shares of PINS stock come on the market when the lock-up expiration occurs in a few months. It will probably take some time for several catalysts to meaningfully boost PINS stock.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post Should Investors Buy Pinterest Stock on Weakness? appeared first on InvestorPlace.
Cloud company (FSLY)(ticker: FSLY) got off to a quick start in its first day of trading, continuing the Jekyll-and-Hyde nature of this year’s tech IPO crop. Fastly opened 34% above its IPO price of $16 per share. “There is a clear divergence between the enterprise B-to-B (business-to-business) side and B-to-C (business-to-consumer) for IPOs,” Fastly Chief Executive Artur Bergman told Barron’s in a phone interview.
Shares of Fastly Inc. opened 34% above its initial public offering price, then kept rising, as the software company debuted on the NYSE. The first trade was at $21.50 at 10:35 a.m. Eastern for 2.06 million shares, above the $16 IPO price. It was recently trading above $23, or more than 44% above its IPO price. The company raised $180.8 million, as the IPO priced at the top of the expected range, giving the company an initial market capitalization of $1.45 billion. Fastly has gone public at a time that the Renaissance IPO ETF has gained 7.3% over the past three months, while the S&P 500 has tacked on 3.4%.
Fastly Inc. priced its initial public offering at $16 a share Thursday evening, raising more than $180 million for the San Francisco software company. The company announced that it will sell 11.25 million shares at that price, the top of its proposed range of $14 to $16, to raise $180.8 million. Underwriters -- led by BofA Merrill Lynch, Citigroup, and Credit Suisse -- have access to roughly 1.7 million more shares that could push the total higher. At the IPO price, Fastly would have an initial market cap of $1.45 billion. Shares are expected to begin trading Friday morning on the New York Stock Exchange under the ticker symbol FSLY.
SAN FRANCISCO, May 16, 2019 -- Fastly, Inc. (“Fastly”), provider of an edge cloud platform, today announced the pricing of its initial public offering of 11,250,000 shares of.
The tech company behind tech companies hits the market next Friday, and it’s looking for investors. The IPO Fastly, Inc. will issue 11.25 million shares on the New York Stock Exchange under ticker FSLY, ...
Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Cheung, and Akiko Fujita join Fastly Co-Founder and CEO Artur Bergman.