Technology

Roku Ready – Updated

We sent out the ROKU notes below on September 27th but are providing a few UPDATES here: “Splitting the difference” turned out to be about right – it suggested $20/share and that’s where ROKU settled the first day of trading. Since then it’s moved up a bit more to $23. There are some reasons to…

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Tintri Walks like Duck, Talks like a Duck…

There’s huge pressure for large companies to modernize their IT infrastructure in the wake of the “Amazon-ification” of infrastructure by AWS. Tintri (TNTR) is a cloud storage company trying to position themselves as an “enterprise cloud” provider. It’s a smart thing to do but fairly misleading based on their existing revenue and product mix. You…

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Blue Apron needs to be acquired soon.

UPDATE: The Amazon $AMZN Whole Foods acquisition makes this post ring truer. If home delivered meal kits are a $1B+ business how long do you think it will be before Amazon leverages their purchase with this easy add-on? RIP $APRN IPO… Nobody has done a better job at making “meal kits” an actual category in…

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Appian an overhyped but still good enterprise software IPO.

Enterprise software maker Appian (APPN) priced their IPO at $12 yesterday and it traded to $15. It’s a solid deal and still has more upside based on our IV model below. However, we take issue with many of their rather bold claims about their technology and where it fits. Our original notes are below along with some added segments…

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Veritone – AI research going public

If you’re interested in AI then Veritone (NASDAQ: VERI $14-16) is an IPO you’ll want to at least have a look at. It’s a small deal led by three smaller banks – Wunderlich, Craig-Hallum and Northland. The larger firms wouldn’t touch this –  it’s still more like a research project than a company. [UPDATE: Under pressure from…

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Cloudera Wants to be the King of Modern Enterprise Data

Data Evolves Exponential growth in data creates new demands for which traditional data management techniques like relational databases are not satisfactory. The pervasive nature of the internet and the so-called IoT has ensured that the exponential growth of data remains unchecked. The point of processing this type of data is to be able to react…

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Yext is Next

Just last week we posted that Software Infrastructure is Hot Again (and OKTA priced above the range at $17 and has moved up to $23). Less than a week later we have a story out of the Information about how now technology companies are scrambling to find experienced CFO talent to lead them to an IPO. That’s…

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Can Alteryx be more than a niche analytics software play?

The Alteryx (NYSE: AYX) IPO is well-banked with co-leads Goldman and JP Morgan joined by a team of five research-oriented co-manager (PacCrest, Blair, JMP, RayJay and Cowen.) Price talk is $12 to $14 which puts the market capitalization at $750M at the mid-point of the range on about 58M shares outstanding. Check out the Alteryx IPO…

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Time to buy Twilio

[UPDATE: May 4, 2017] So Twilio is losing a chunk of business from Uber, their largest single customer. It’s a blow and it will impact the next few quarters. The shares took a big hit which is to be expected. At this point however the investment thesis remains intact and the company continues to add new…

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Coupa IPO is another SaaS Winner

Coupa IPO Overview It’s been a good year so far for enterprise technology IPOs. We’ve enjoyed Twilio (TWLO) and most recently Nutanix (NTNX) which priced high, opened higher and went on to impressive gains in the aftermarket. WE’ Coupa (COUP) is scheduled for a Wednesday night pricing and should be trading Thursday morning. The current…

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