Kamis Nov 16 2023 09:21
4 min
The initial public offerings (IPO) market appears to be heating up after a long period of dormancy. In the third quarter of 2023, 30 IPOs collectively raised $7.8 billion, surpassing the total amount raised throughout the whole of 2022, according to a report by Renaissance Capital.
The majority (63%) of these funds came from the highly anticipated IPO of Softbank-backed chipmaker Arm Holdings, which secured an impressive $4.9 billion. Not only did Arm's IPO mark the most substantial tech offering since 2019, but it also positioned itself as one of the largest IPOs in U.S. history.
However, Arm was not the only prominent player to debut in the IPO scene in Q3. The market also saw enthusiastic receptions for the IPOs of grocery delivery firm Instacart (officially registered under the name Maplebear) and marketing software company Klaviyo.
These companies initially saw strong starts on the stock charts following their IPOs — however, all three have faced declines in the weeks that followed. The stock price struggles have only intensified after the release of each company's respective earnings reports.
Hitung P/L hipotetis Anda (harga dan biaya gabungan) jika Anda membuka perdagangan hari ini.
Pasar
Instrumen
Tipe Akun
Arah
Kuantitas
Jumlah harus sama atau lebih tinggi dari
Jumlah harus kurang dari
Jumlah harus merupakan kelipatan dari kenaikan lot minimum ()
USD
EUR
GBP
CAD
AUD
CHF
ZAR
MXN
JPY
Nilai
Komisi
Spread
Leverage
Biaya Konversi
Margin yang Diperlukan
Overnight Swap
Kinerja masa lalu bukanlah indikator yang dapat diandalkan untuk hasil masa depan.
Semua posisi pada instrumen dalam mata uang yang berbeda dengan mata uang akun Anda, juga akan dikenakan biaya konversi pada saat keluarnya posisi.
Klaviyo was the first to release its third-quarter results on November 7. The company reported having 135,000 customers by the end of the three-month period ending September 30, reflecting a nearly 24% increase year-over-year. The number of customers generating over $50,000 in annual recurring revenue also surged by 89%. Klaviyo beat revenue expectations, reporting $175.8 million, and provided a fourth-quarter revenue forecast that surpassed analysts' estimates.
Despite these positive figures, the stock saw a sharp decline of 12.5% the day after reporting and is currently trading around $28.50 — well below its IPO price of $30 per share.
A similar pattern unfolded for Arm Holdings and Instacart, with both stocks declining after their respective results. Arm closed down 5.2% on November 9 due to a lighter-than-expected fiscal first-quarter forecast, which offset the company's 28% year-over-year growth in its fiscal second quarter and earnings that more than doubled from the previous year.
Similarly, despite Instacart reporting Q3 revenue that exceeded expectations, rising 14% year-over-year to $764 million, CART shares fell 10.1% on November 9. CEO Fidji Simo's comments on potential challenges, including lower consumer spending, inflation, and interest rates impacting current and near-term growth, likely contributed to the stock decline.
At the time of writing, Arm's stock is trading slightly above its IPO price of $50, while Instacart stock is trading below its $30 per-share IPO price.
Despite the less-than-favorable reactions to their Q3 earnings reports and underwhelming post-IPO performances, analysts maintain an overwhelmingly optimistic outlook on all three stocks, according to a recent report by Kiplinger. Data from S&P Global Market Intelligence indicates that Klaviyo, Arm and Instacart all hold consensus Buy ratings as of November 15.
Mizuho Securities analyst Siti Panigrahi says Klaviyo "offers an attractive longer-term story as the business shifts to a broader digital relationship platform, expands up-market, and gains traction internationally”. With shares trading close to their IPO price, "we believe Klaviyo currently offers an attractive entry point”, Panigrahi adds.
Bank of America analyst Vivek Arya admitted that Arm Holdings’ results were "lumpy”, but reiterated a Buy rating on the stock, citing expectations that core royalty revenue was "on the cusp of re-accelaration" and amid "more confident" smartphone forecasts from top clients Qualcomm and MediaTek.
Stifel analyst Mark Kelley is optimistic about Instacart's earnings, stating that the company “is on the right path with solid execution in its first quarter” — in part to favorable trends in advertising and the introduction of its Instacart+ membership option.
Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.
Daftar Aset
Lihat Daftar LengkapTerkini
Lihat semua
Kamis, 14 Agustus 2025
5 min
Kamis, 14 Agustus 2025
4 min
Kamis, 14 Agustus 2025
3 min
ID
