US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

US IPOs and Secondary Offerings

SailPoint Inc (SAIL): Upwardly-Revised, Upsized IPO Falls Flat on Day One

SailPoint, Inc. (SAIL.US): Overall Growth Is Slowing Down, But FCF Will Turn Positive in FY26

SailPoint, Inc. (SAIL) -- IPO Price Range Increased; Software Order Book Demand Is Fever Pitch

SailPoint (SAIL): Sets Course to US Indices for March and June 2025

SailPoint IPO (SAIL.US): Pricing and First Trading-Day, No IPO Pop In $1B+ Nasdaq Debut

IPOs and Secondary Offerings

Equity Capital Markets

Sailpoint Technologies Holdings / Equity Capital Markets

Sailpoint Technologies Holdings (SAIL US)

<ul>
<li>The IPO priced 60.0 million shares (upsized from 50.0 million) at $23.00, the high end of the upwardly revised $19–$21 range, only to open flat and trade poorly.</li>
<li>Underwriters failed to properly assess book quality. While the order book was reportedly 20× covered, the aftermarket behavior revealed that much of this “demand” lacked conviction.</li>
<li>The stock’s underperformance will likely keep momentum buyers on the sidelines until the company strings together multiple quarters of beats and raises.</li>
</ul>


The IPO priced 60.0 million shares (upsized from 50.0 million) at $23.00, the high end of the upwardly revised $19–$21 range, only to open flat and trade poorly.
Underwriters failed to properly assess book quality. While the order book was reportedly 20× covered, the aftermarket behavior revealed that much of this “demand” lacked conviction.
The stock’s underperformance will likely keep momentum buyers on the sidelines until the company strings together multiple quarters of beats and raises.


SailPoint, Inc. (SAIL) Six Month Summary: A Textbook Case of an IPO Overreach