Ibotta shares surge on ‘overwhelming demand' after IPO generates more than $577 million [Yahoo! Finance]
Astera Labs, Inc. (ALAB)
Company Research
Source: Yahoo! Finance
In late afternoon trading, shares had retreated to about $105, still a 19% rise from Wednesday's close. Initial pricing for the shares—6.56 million were sold at $88, generating more than $577 million —had been in the range of $76 to $84. “We had just overwhelming demand,” CEO Bryan Leach told Fortune on Wednesday. “There was nowhere near enough stock. There still isn't.” Matt Kennedy, a senior IPO strategist at Renaissance Capital, which provides pre-IPO research and manages two IPO-focused ETFs, told Fortune that Ibotta pricing $4 above the top of its range reflected, at least in part, the company's growth. For the year ending Dec. 31, revenue was up 52% to $320 million. For 2023, the firm reported net income of $38 million compared with a loss of nearly $55 million in 2022. “It's very encouraging to see that demand was resilient enough to price above the range,” Kennedy added. “VC-backed tech IPOs have been very rare. There's only been a handful in the last two years.” But
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News
- Astera Labs, Inc. Common Stock (NASDAQ:ALAB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Astera Labs, Inc. (NASDAQ: ALAB) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $85.00 price target on the stock.MarketBeat
- Profiter de l’essor de l’IA grâce aux FNB sur l’IA [Finance et Investissement (Montreal) (French)]Finance et Investissement
- Astera Labs Announces Financial Results for the First Quarter of Fiscal Year 2024 [Yahoo! Finance]Yahoo! Finance
- Astera Labs Announces Financial Results for the First Quarter of Fiscal Year 2024Business Wire
ALAB
Earnings
- 5/7/24 - Beat
ALAB
Sec Filings
- 5/9/24 - Form S-8
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 8-K
- ALAB's page on the SEC website