Insights

Pinterest IPO Is Coming to the Market For Less Than Expected

The flood of initial public offerings (IPOs) continues, with attention now turning to a popular social-media service.

Pinterest (PINS) announced yesterday it would issue 75 million shares for $15-17 each. Based on its 529 million share count, that translates into an overall valuation of $7.9 billion to $8.9 billion. The number immediately raised eyebrows because PINS was valued around $12 billion in the private market 22 months ago.

Still, prices can change quickly in the world of
IPOs. Ride-sharing firm Lyft (LYFT), for instance, initially floated a $68 number for each share and then issued its stock $4 higher. It subsequently spiked to $88.60 after trading opened, and then slid back toward the low $70s.

Even before PINS, other technology firms are coming to market. Here are some of the pending names, according to TradeStation’s partner
ClickIPO:

  • Tufin Software Technologies (TUFN): A Tel Aviv-based member of the up-and-coming cybersecurity industry. It plans to raise a little more than $100 million on Thursday.
  • Jumia Technologies (JMIA): A Nigerian e-commerce company operating across Africa. It plans to raise about $195 million on Thursday.
  • PagerDuty (PD): Another cloud-computing company, this time helping enterprises manage customer issues across various platforms. It plans to raise about $180 million on Thursday.

ClickIPO preview of upcoming offerings.

ClickIPO preview of upcoming offerings.


This article was written by David Russell, TradeStation Securities, Inc., part of the Monex Group Inc, published on 09/04/2019.

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