In today’s briefing:
- Aequitas India IPOs Bookrunner Performance (2019-2022)
- Teradyne Inc: Merger of AutoGuide Mobile Robots & MiR & Other Drivers
- Five9 Inc: R&D Expansion & Other Drivers
- DocuSign Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)
- Cognizant Technology Solutions: Acquisition Of AustinCSI & Other Drivers
- FuelCell Energy: Solid Oxide Fuel Cell And Electrolyzer Platform & Other Drivers
- Lumentum Holdings: R&D Expansion & Other Drivers
- Amkor Technology: Entry Into TSMC’s OIP 3DFabric Alliance & Other Developments
- Under Armour: New SlipSpeed Range For Athletes & Other Developments
Aequitas India IPOs Bookrunner Performance (2019-2022)
- In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022.
- The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.
- The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.
Teradyne Inc: Merger of AutoGuide Mobile Robots & MiR & Other Drivers
- Teradyne delivered a solid result in the last quarter as the company surpassed analyst expectations with respect to revenues as well as earnings.
- At the operating level, it cleared some supply bottlenecks that allowed the company to ship more of semiconductor test products than previously planned.
- Automation Group’s quarter revenue, in constant currency, grew.
Five9 Inc: R&D Expansion & Other Drivers
- Five9 delivered an all-around beat in its last result as the company stock has seen a reversal in fortunes over the past few weeks.
- The company gets leverage from its channels, ecosystem of partners, and system integrators, which helped it build its pipeline in its last result.
- Overall, we provide the stock of Five9 with a ‘Hold’ rating and a revision in the target price.
DocuSign Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)
- DocuSign delivered solid quarter results despite the challenging operating environment, surpassing Wall Street expectations in terms of both, the top and bottom lines.
- However, the company stills see healthy results with customers recognizing DocuSign high-ROI applications that are cost-effective, efficient, and easy to use.
- DocuSign is continuing its innovation on the CLM front, solidifying its execution, customer validation, and vision within the CLM space.
Cognizant Technology Solutions: Acquisition Of AustinCSI & Other Drivers
- With its results around the corner, it would be interesting to look at Cognizant’s results from the last quarter.
- The company had delivered revenue below the guidance range of the management, primarily driven by a lower billable headcount in North America.
- Cognizant has been seeing revenue growth from health services and from products and resources driven by demand for its digital services among travel and hospitality, consumer goods, automotive, and logistics clients.
FuelCell Energy: Solid Oxide Fuel Cell And Electrolyzer Platform & Other Drivers
- FuelCell Energy had another disappointing result as it failed to meet Wall Street expectations in terms of revenues as well as earnings.
- FuelCell delivered 8 more modules of Ex Works to the Fuel Cell in Korea.
- It is worth highlighting that FuelCell has started accepting orders for its solid oxide platform for hydrogen electrolysis and power generation applications.
Lumentum Holdings: R&D Expansion & Other Drivers
- Lumentum Holdings delivered a strong result in the last quarter and managed an all-around beat.
- This quarter reported strong demand from customers.
- Overall, the demand for the Telecom products of Lumentum remains strong, particularly in edge networking applications.
Amkor Technology: Entry Into TSMC’s OIP 3DFabric Alliance & Other Developments
- Amkor Technology delivered excellent results in the last quarter and managed an all-around beat as its end markets showed a very strong demand.
- Whereas market forecasts are weakened in some areas and the industry has been facing near-term macroeconomic headwinds, demand for the company’s advanced packaging technology stays strong, and the momentum strengthened in this quarter.
- Revenue from computing end markets increased, and the test business of the company grew.
Under Armour: New SlipSpeed Range For Athletes & Other Developments
- Under Armour delivered an all- beat in its last result and was able to protected its financial health despite various headwinds.
- Revenue was up in footwear with positive results in every category, led by significant strength in team sports.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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