10 High-Profile IPOs: What the Analysts Think
Fans of initial public offerings (IPOs) have gotten one flashy deal after another in 2019. Some companies such as Beyond Meat (BYND) shocked onlookers with a meteoric ascent, while other hotly hyped companies such as Uber Technologies (UBER) crashed and burned early on. But broadly speaking, there's demand for IPOs, and up-and-coming companies are happy to fill that demand.
"IPO activity is (mildly) cyclical, as management teams take the opportunity to go public while being buoyed by favorable economic conditions," Bernstein equity strategist Noah Weisberger told CNBC in explaining this year's red-hot IPO market.
It's early going for these new stocks, however. They have only a few months of trading under their belts, and very little financial track record to go on. With so little information at their fingertips, investors must rely heavily on Wall Street's analysts for insights into the comings and goings of these IPOs.
Here are 10 recent higher-profile IPOs, and what analysts are saying about each of these new stocks.
Uber Technologies
Market value: $73.1 billion
TipRanks consensus price target: $53.48 (24% upside potential)
TipRanks consensus rating: Strong Buy
Uber Technologies (UBER, $43.09) was one of the most highly anticipated IPOs on the calendar, but its May offering was a massive flop. Some hailed it as the most disappointing IPO since Facebook (FB) went public in 2012.
"The timing of our IPO was very much aligned with our president's tariff wars, the same day," CEO Dara Khosrowshahi said at the Economic Club of Washington. "So I think we got caught up a bit in the market swirl."
Uber raised $8.1 billion in its early May IPO and opened trading at just $42 per share, down from its IPO price of $45. Despite this conservative starting point, shares continued to
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