U.S. initial public offerings (IPOs) raised $142 billion last year, representing an 82.1% year-over-year increase. The number of IPOs priced in 2021 increased 79.6% from the previous year. The record-high stock market triggered the IPO boom. However…
concerns about high inflation, supply chain disruptions, and central bank monetary policy tightening have caused several IPO stocks to retreat from their all-time highs. Since many of these stocks are now trading near their fair values considering their fundamental strength, they could regain their lost momentum this year.
Wall Street analysts expect shares of Coinbase Global, Inc. (COIN – Get Rating), AppLovin Corporation (APP – Get Rating), UiPath Inc. (PATH – Get Rating), Olaplex Holdings, Inc. (OLPX – Get Rating), and SentinelOne, Inc. (S – Get Rating), which went public last year, to rebound 30% to 75% in price. So, let’s take a look at these names.
COIN provides financial infrastructure and technology for the crypto economy. The San Francisco-based concern offers the primary financial account in the crypto economy for retail users. The company went public through a direct listing process on April 14, 2021.
On September 14, COIN priced 3.375% senior notes due 2028 and 3.625% senior notes due 2031. The capital raised from the note issues is expected to bolster the company’s balance sheet, and it intends to use the net proceeds for general corporate purposes.
For the fiscal third quarter, ended September 30, COIN’s total revenue increased 316% year-over-year to $1.31 billion. Its net income and net income per share attributable to common stockholders stood at $406.10 million and $1.62, respectively, up 399.5% and 604.3% from the prior-year quarter. Its adjusted EBITDA rose 401.7% from the same period last year to $618.22 million.
Analysts expect COIN’s EPS to be $13.68 for its fiscal year 2021. Over the past five days, the stock has gained 0.3% in price to close yesterday’s trading session at $234.70.
Of the 16 Wall Street analysts rating COIN, 13 have rated it Buy, one has rated it Hold, while two have rated it Sell. The 12-month median price target of $402.33 indicates a 71.4% potential upside. The price targets range from a low of $160.00 to a high of $600.00.
Palo Alto, Calif.-based APP constructs software-based platforms for mobile app developers to enhance the marketing and monetization of apps worldwide. Its offerings include AppDiscovery, an automation and optimization solution for business clients, and MAX, an app-bidding solution. The company went public in a traditional IPO process on April 15, 2021.
On January 3, APP announced that it had completed the acquisition of Twitter, Inc.’s (TWTR) MoPub business. The acquisition and the creation of a unified platform are expected to process more than $15 billion of annualized advertiser spending by 2023.
APP’s revenue increased 90.4% year-over-year to $726.95 million in its fiscal third quarter, ended September 30. Its income from operations and net income were $45.05 million and $0.14 million, respectively, up substantially from their negative year-ago values. And its adjusted EBITDA rose 126.3% from the prior-year quarter to $190.70 million.
The $0.79 consensus EPS estimate for its fiscal year 2022 indicates a 426.7% year-over-year increase. And the $3.76 billion consensus revenue estimate for the same period reflects a 35.2% improvement from the prior year.
The stock has gained 29.3% in price since it went public on April 15 to close yesterday’s trading session at $84.33. It has gained 25.5% over the past six months.
Of 12 Wall Street analysts that have rated APP, 11 rated it Buy, while one rated it Sell. The 12-month median price target of $114.92 indicates a 36.3% potential upside. The price targets range from a low of $82.00 to a high of $128.00.
PATH in New York City offers an end-to-end automation platform that provides a…
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