Authentic Brands: Reasonable Valuation Offers Upside
Authentic Brands will be the first IPO we’ve analyzed since Figs that has a reasonable valuation.
Alex Sword
IPO Research
Alex Sword
Allbirds Is Already Overvalued at Expected IPO Valuation
We do not think investors should expect to make any money in Allbird’s stock if the rumored $2 billion valuation comes true.
Matt Shuler, Investment Analyst II
Warby Parker Direct Listing: See Through This Optical Illusion
While we like Warby Parker’s business model, we find the $3 billion valuation much too high for investors to expect a profit from investing in this listing.
Alex Sword
Robinhood IPO: Still A Bad Bet For Investors with Alarming Risk
After analyzing the updated S-1, we still think Robinhood is significantly overpriced and worth no more than $9 billion.
Alex Sword
A Casino For Users, A Bad Bet For Investors
We think this stock is worth no more than $9 billion and that its best years are behind it.
Alex Sword
Didi Global’s Lower Valuation Is Still a Bad Ride for Investors
Despite the big drop in the valuation, we still do not think investors should expect to make any money in this IPO.
Kyle Guske II, Senior Investment Analyst, MBA
Dough-Not Buy This Overpriced IPO
We think the stock is worth no more than $10/share and that JAB Holdings is looking to cash out at the expense of new investors.
Alex Sword
Different Country, Same Bad Business Model
A $100 billion valuation implies Didi will own 50% of the world ride share and food delivery market, a highly unlikely event.
Kyle Guske II, Senior Investment Analyst, MBA
Marqeta’s IPO Is Priced Beyond Perfection
We see no reason for investors to buy this IPO. Wait for the price to drop to below $9/share or allocate to stocks with much better risk/reward.
Kyle Guske II, Senior Investment Analyst, MBA
Figs Stands Out Amidst a Sea of Overvalued IPOs
Figs is the best looking IPO we’ve seen so far in 2021.
Kyle Guske II, Senior Investment Analyst, MBA
Squarespace Valuation Is Out of This World
This direct listing looks like a bad to deal to us, and we would not be buyers of this stock at anywhere close to the expected valuation.
Kyle Guske II, Senior Investment Analyst, MBA
Strong Earnings Won’t Stop Coinbase’s Slump
Coinbase is not likely to fulfill the profit expectations baked into the stock’s current valuation due to rising competition in the cryptocurrency trading space.
Matt Shuler, Investment Analyst II
Honestly Overvalued
At the midpoint of its price range, The Honest Company is valued at ~$1.4 billion and earns our Unattractive rating.
Kyle Guske II, Senior Investment Analyst, MBA
Another Overvalued IPO: Endeavor Group
Endeavor will test investors’ appetite for overvalued IPOs as Endeavor needs this IPO more than investors do.
Kyle Guske II, Senior Investment Analyst, MBA
Despite Record 1Q Results, Coinbase’s Valuation Remains Ridiculous
The company has little-to-no-chance of meeting the future profit expectations that are baked into its ridiculously high expected valuation of $100 billion.
Kyle Guske II, Senior Investment Analyst, MBA
Compass’ IPO Valuation Is Off the Map
Compass fails to generate any profits, and with minimal ability to cut costs, it’s hard to make a straight-faced argument that the firm can justify a ~$10 billion valuation.
Kyle Guske II, Senior Investment Analyst, MBA
Can You Make Coin Investing in Coinbase?
This report aims to help investors sort through Coinbase’s financial filings to understand the fundamentals and valuation of this upcoming direct listing.
Kyle Guske II, Senior Investment Analyst, MBA
Bumble’s IPO Is Priced For Perfection
With a higher valuation, likely due to rising demand for shares, will investors find a perfect match with Bumble?
Kyle Guske II, Senior Investment Analyst, MBA
Airbnb’s Higher Valuation Is Reasonable
The new valuation changes nothing about the firm’s business but increases the execution risk of management achieving the expectations baked into the stock.
Kyle Guske II, Senior Investment Analyst, MBA
DoorDash’s New Valuation Is Even More Ridiculous
Making an overpriced IPO more expensive only creates more downside risk for investors.
Kyle Guske II, Senior Investment Analyst, MBA