In today’s briefing:
- SentinelOne Eyes Observo AI: A $1 Billion Cybersecurity Power Play In The Making?
- Consolidation of The Copper Kingdom – The Anglo Teck Merger
- Figure Technology Solutions (FIGR): Figure Cracks the Block, IPO Pops 44% at Open
- HLF US: Harnessing Technology to Enhance the Strength of Its Global Health & Wellness Infrastructure
- IoTeX: The Open Ecosystem for Real-World AI
- LB Pharmaceuticals Inc. (LBRX): Strong Open, Schizophrenia Biotech Finds Early Momentum
- HOVR: Continues to make steady progress toward development milestones. Increasing our 12-month valuation target to 2.
- VRA; 2Q Review: Plotting the Revival; Reiterate Hold and Remain Guarded NT
- 1-800-Flowers.com, Inc: Business Stabilizing; New CEO Outlines Strategic Vision
- VNCE: 2Q Review: Great Product > Tariff; Raising Projections, Reiterate Buy, PT
SentinelOne Eyes Observo AI: A $1 Billion Cybersecurity Power Play In The Making?
- SentinelOne’s recent earnings call made headlines with a major milestone: the company’s Annual Recurring Revenue (ARR) surpassed $1 billion, growing 24% year-over-year, while its net new ARR hit record levels.
- This momentum is underpinned by strong customer traction across emerging solutions like Purple AI, Singularity Data, and its cloud-native security stack.
- Riding this wave of innovation and expansion, SentinelOne is now reportedly eyeing Observo AI as a potential acquisition target.
Consolidation of The Copper Kingdom – The Anglo Teck Merger
- Anglo American (AAL LN) – BHP Group Ltd (BHP AU) fails in May 2024; 17 months later, Anglo American (AAL LN) – Teck Resources (TECK US) merge.
- The Anglo Teck portfolio will have more than 1.2 million tonnes of annual copper production, anchored by six world-class copper assets with more than 70% copper exposure.
- The company will divest its non-core assets, including DeBeers, steelmaking coal, nickel, and other similar assets, and pivot to consolidating/growing its copper operations.
Figure Technology Solutions (FIGR): Figure Cracks the Block, IPO Pops 44% at Open
- Figure Technology Solutions priced 31.5M shares at $25.00, coming $3 above the upwardly revised $20–$22 range.
- According to our sources, the deal was considered multiple-times oversubscribed — north of 25-times oversubscribed.
- With strong financials, a proven founder, and outsized demand, the name has near-term trading appeal — but consolidation around the low-to-mid 30s is likely as hype cools.
HLF US: Harnessing Technology to Enhance the Strength of Its Global Health & Wellness Infrastructure
- HLF has a network of more than 2 million distributors and is unique among direct sellers by having a hybrid model that includes more than 60,000 brick-and-mortar locations worldwide in the form of its distributors’ nutrition clubs.
- This unique infrastructure provides a strong foundation to build a premier, technology-driven health and wellness platform.
Today’s technology-driven platforms interact with customers on one end and service providers on the other, bringing the two together to create a marketplace.
IoTeX: The Open Ecosystem for Real-World AI
- The market for real-world AI is projected to be a significant driver of both enterprise and consumer AI adoption. While the enterprise AI market size is estimated to reach $450 billion by 2030, targeting industries such as manufacturing, logistics, healthcare, energy, and finance, the consumer AI market size is projected to reach $674.49 billion by 2030.
- IoTeX is a modular L1 blockchain and middleware platform connecting various centralized and decentralized real-world data sources to AI models and applications. It empowers a decentralized agentic economy by enabling secure, scalable, and privacy-focused interactions between devices, humans, dapps, and AI agents.
- IoTeX’s unique strength lies in its three-layered real-world AI tech stack: data ingestion layer for connecting various centralized and decentralized data sources (APIs, modular DePIN infrastructure), data verification & processing layer for data aggregation, formatting, indexing, and proving (Quicksilver), and Adaptive AI core layer for domain-specific and foundation model training and AI inferences (Realm).
LB Pharmaceuticals Inc. (LBRX): Strong Open, Schizophrenia Biotech Finds Early Momentum
- LB Pharmaceuticals (LBRX) priced an upsized IPO of 19.0 million shares at the midpoint of the range, $15.00. Shares opened at $19.00, delivering a +26.7% gain at first trade.
- Existing shareholders in previous rounds were likely anchoring the stock and providing stabilization in its debut.
- We expect short-term trading to follow the broader biotech sector trend, with catalysts tied directly to clinical and regulatory developments.
HOVR: Continues to make steady progress toward development milestones. Increasing our 12-month valuation target to 2.
- Horizon Aircraft (NASDAQ: HOVR) is an early-stage aerospace OEM that is developing a hybrid electric vertical takeoff and landing (“eVTOL”) aircraft for the regional air mobility market.
- Horizon Aircraft’s recently released 10-K revealed the steady progress the company has made over the past year (roughly doubling its staff) and a recent capital raise has given the company adequate capital to fund operations for at least the next twelve months.
- The market frenzy in the eVTOL space has cooled with most of the stocks in the industry trading 25-50% below their August highs but still well above the Spring 2025 lows.
VRA; 2Q Review: Plotting the Revival; Reiterate Hold and Remain Guarded NT
- We are reiterating our Hold rating on Vera Bradley and slightly reducing our projections for 2HFY26 and FY27 after the company released 2QFY26 (July) results which were below expectations on the top line but materially better on the EBITDA and bottom lines, as the company was able to leverage some key product wins against very easy comparisons (expectations).
- More importantly, new management laid out their five pillars to revive the Vera Bradley, including: 1) sharpening the brand, 2) a true omnichannel experience, 3) outlet 2.0; 4) operations focus and 5) re-imagining how Vera Bradley works.
- Management believes these shifts will reposition the brand to re-attract older customers and position Vera Bradley for new generations, along with a return to higher overall profitability and consistent top line growth.
1-800-Flowers.com, Inc: Business Stabilizing; New CEO Outlines Strategic Vision
- FLWS recently reported its 4QFY25 results and held its first earnings call with Adolfo Villagomez in his role as CEO, who outlined his strategic priorities for the company.
- 4QFY25 results indicate that the business has stabilized following two quarters of missing expectations.
- Sales of $336.6MM declined 6.7%, but beat our estimate for $324.3MM and FactSet consensus of $330.0MM.
VNCE: 2Q Review: Great Product > Tariff; Raising Projections, Reiterate Buy, PT
- We are reiterating our Buy rating and raising our projections for Vince Holding after the company reported solid 2Q results, with inline top line and material bottom line upside, as the company’s product offerings were very strong and drove increases in full price selling, despite disruptions from tariffs which led to delayed shipments.
- Further, initial 3Q guidance reflected strong demand for the company’s new Fall lines and the potential to offset a material portion of the higher tariff impact with a more balanced supply chain and selected price increases.
- We believe Vince remains a key fashion winner with the product and customer base to drive higher pricing, continued new store growth and to capture a wider piece of the overall wholesale channel market, As such, we remain upbeat on the potential for further upside as the tariff shocks abates, and we reiterate our Buy rating and $4 price target for VNCE.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
