Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Bottom-Up

<ul>
<li>Shares of <a href="https://www.smartkarma.com/entities/bigcommerce-holdings-inc" target="_blank" data-smartkarma-citation="entities:29196:1" rel="noopener">BigCommerce Holdings (BIGC US)</a>  slipped below the IPO price of <strong>$24.00</strong> per share, and at current valuation, we see limited downside risk for BigCommerce stock investors.  </li>
<li>In 2020, <a href="https://www.smartkarma.com/entities/intuit-inc" target="_blank" data-smartkarma-citation="entities:8235:1" rel="noopener">Intuit Inc (INTU US)</a>  offered to acquire BigCommerce for $1.5 billion, according to CNBC and other public sources. Both BigCommerce and Intuit didn’t provide a comment.</li>
<li>Insider selling activity has slowed down noticeably over the past three months and <a href="https://www.smartkarma.com/entities/bigcommerce-holdings-inc" target="_blank" data-smartkarma-citation="entities:29196:1" rel="noopener">BigCommerce Holdings (BIGC US)</a>  insiders sold ~$5 million worth of shares. </li>
</ul>


Shares of BigCommerce Holdings (BIGC US)  slipped below the IPO price of $24.00 per share, and at current valuation, we see limited downside risk for BigCommerce stock investors.  
In 2020, Intuit Inc (INTU US)  offered to acquire BigCommerce for $1.5 billion, according to CNBC and other public sources. Both BigCommerce and Intuit didn’t provide a comment.
Insider selling activity has slowed down noticeably over the past three months and BigCommerce Holdings (BIGC US)  insiders sold ~$5 million worth of shares. 


BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year.</li>
<li>While most of that disappointing performance was due to market related risks, the company's strategy seems to be changing rapidly.</li>
<li>Shifting the focus from a pure organic-led growth to an M&amp;A frenzy is a bad omen in the already richly priced software space.</li>
</ul>


Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year.
While most of that disappointing performance was due to market related risks, the company's strategy seems to be changing rapidly.
Shifting the focus from a pure organic-led growth to an M&amp;A frenzy is a bad omen in the already richly priced software space.


Intuit: A Strategy Shift And High Momentum Exposure

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/upstart-holdings-inc" target="_blank" data-smartkarma-citation="entities:29727:1" rel="noopener">Upstart Holdings Inc (UPST US)</a> is both a consumer Internet brand as well an online loan origination platform. </li>
<li>Upstart is a rare fintech that has established credibility by delivering high growth with profits and cash generation. The healthy 2022 outlook underscores the long-term potential. </li>
<li>While the ongoing market volatility is a near-term risk, the tech sell-off presents an opportunity to gain exposure to a good story at an attractive valuation. </li>
</ul>



Upstart Holdings Inc (UPST US) is both a consumer Internet brand as well an online loan origination platform. 
Upstart is a rare fintech that has established credibility by delivering high growth with profits and cash generation. The healthy 2022 outlook underscores the long-term potential. 
While the ongoing market volatility is a near-term risk, the tech sell-off presents an opportunity to gain exposure to a good story at an attractive valuation. 


Upstart Holdings: Fast-Growing, Profitable, Cash Generative with Share Buybacks

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

<ul><li>While Intuit’s stock price may have been witnessing a correction off late, the company is off to a solid start in the 2022 fiscal with sustained momentum across its platform.</li><li>Strong network effects have justified Intuit’s growth for the past years and might well continue in 2022.</li><li>We are bullish on Intuit and give their stock an 'Outperform' rating with a revised target price.</li></ul>

While Intuit’s stock price may have been witnessing a correction off late, the company is off to a solid start in the 2022 fiscal with sustained momentum across its platform.Strong network effects have justified Intuit’s growth for the past years and might well continue in 2022.We are bullish on Intuit and give their stock an 'Outperform' rating with a revised target price.

<ul><li>Intuit is among the high quality software businesses, with significant competitive advantages.</li><li>However, recent management decisions to go on an acquisition spree foreshadow future returns.</li><li>Moreover, Intuit is among the most heavily exposed tech companies to the risk of rising interest rates and fading momentum trade.</li></ul>

Intuit is among the high quality software businesses, with significant competitive advantages.However, recent management decisions to go on an acquisition spree foreshadow future returns.Moreover, Intuit is among the most heavily exposed tech companies to the risk of rising interest rates and fading momentum trade.

Intuit: In The Epicenter Of The Market Melt-Up

United States

Intuit Inc. develops and markets business and financial management software solutions for small and medium sized businesses, financial institutions, consumers, and accounting professionals  The Company provides software for small business management and payroll processing, personal finance, and tax preparation and filing.

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Intuit Inc (INTU US)

BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Our analysis suggests risk/reward for BigCommerce shares looks strong, and downside potential may be limited as BigCommerce stock is undervalued...

Andrei Zakharov

Intuit: A Strategy Shift And High Momentum Exposure

Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year. While most of that...

Vladimir Dimitrov, CFA

Intuit Inc. - Investment Thesis

While Intuit’s stock price may have been witnessing a correction off late, the company is off to a solid start in the 2022 fiscal with sustained...

Baptista Research

Intuit: In The Epicenter Of The Market Melt-Up

Intuit is among the high quality software businesses, with significant competitive advantages. However, recent management decisions to go on an...

Vladimir Dimitrov, CFA

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BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Our analysis suggests risk/reward for BigCommerce shares looks strong, and downside potential may be limited as BigCommerce stock is undervalued...

Andrei Zakharov

Intuit: A Strategy Shift And High Momentum Exposure

Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year. While most of that...

Vladimir Dimitrov, CFA

Upstart Holdings: Fast-Growing, Profitable, Cash Generative with Share Buybacks

Upstart is a rare fintech that has established credibility by delivering high growth with profits and cash generation. The tech sell-off is an...

Arun George

Intuit Inc. - Investment Thesis

While Intuit’s stock price may have been witnessing a correction off late, the company is off to a solid start in the 2022 fiscal with sustained...

Baptista Research

Intuit: In The Epicenter Of The Market Melt-Up

Intuit is among the high quality software businesses, with significant competitive advantages. However, recent management decisions to go on an...

Vladimir Dimitrov, CFA