Many tech stocks, including Facebook, Twitter, Etsy, Grubhub and Box are up on the year
After a rough 2015 and 2016, in which the IPO market fell to its lowest point since 2009, the tides are changing.
There were 25 companies that decided to go public in the second quarter of this year, compared to just nine in the same period in 2016. The tech sector especially has seen a revitalization, with some of the companies debuting including Cloudera, Snap, Blue Apron, Carvana, Yext, Okta and Mulesoft.
The number of companies choosing to go public could rise even higher now that the SEC has decided to reduce some of the restrictions for filing a confidential IPO, changing the rule so that any company, even one with over $1 billion in revenue, can do so.
While conditions for companies wanting to go public are becoming more favorable, it's a good time to take a status check on how some recent tech IPOs (as far back as Facebook) have been faring. If you're not a daily watcher of the market, you'll be surprised to see Fitbit down nearly 30% for the year and 74% from its IPO in 2015. But Twitter is up nearly 11% for the year while Facebook is up 32%. And if anyone bought Snap, Cloudera or Blue Apron stock at their opening price, they'd have lost money.
- Opening price: $17 (March 2, 2017)
- Price at the start of the year: $24
- Current price: $16.99
- Percentage change for the year: down 29 percent
- Percentage change from IPO: down 0.05 percent
- All time low closing: $16.99 (7/10/17)
- All time high: $27.09 (3/3/17)
- Market cap: $19.88 billion
- 2016 revenue: $404.5 million
- 2016 adjusted EBITDA: $(459.4) million
- Opening price: $15 (April 28, 2017)
- Price at the start of the year: $17.8
- Current price: $16.39
- Percentage change for the year: down 8 percent
- Percentage change from IPO: up 9.3 percent
- All time low: $15.68 (6/29/17)
- All time high: $22.99 (6/8/17)
- Market cap: $2.17 billion
- 2016 revenue: $119 million
- 2016 net loss: $203 million
- Opening price: $10 (June 29, 2017)
- Price at the start of the year: $10
- Current price: $8.14
- Percentage change for the year: down 18.6 percent
- Percentage change from IPO: down 18.6 percent
- All time low closing: $7.73 (7/7/17)
- All time high closing: $9.67 (7/3/17)
- Market cap: $1.48 billion
- 2016 revenue: $795.4 million
- 2016 net income: $(26.5) million
- IPO price: $38 (Date: May 18, 2012)
- Price at the start of the year: $116.03
- Current price: $153.55
- Percentage change for the year: up 32.3 percent
- Percentage change from IPO: up 304 percent
- All time low closing: $17.73 (9/4/12)
- All time high closing: $155.07 (6/23/17)
- Market cap: $452.7 billion
- 2016 revenue: $26.9 billion
- 2016 net income: $3.6 billion
- IPO price: $26 (November 6, 2013)
- Price at the start of the year: $16.31
- Current price: $18.09
- Percentage change for the year: up 10.9 percent
- Percentage change from IPO: down 30.4 percent
- All time low closing: $14.01 (5/3/16)
- All time high closing: $73.31 (12/16/13)
- Market cap: $13.29 billion
- 2016 revenue: $2.5 billion
- 2016 adjusted EBITDA: $191.4 million
- IPO price: $20 (November 4, 2011)
- Price at the start of the year: $3.44
- Current price: $3.65
- Percentage change for the year: up 6 percent
- Percentage change from IPO: down 81.8 percent
- All time low closing: $2.22 (2/9/16)
- All time high closing: $26.19 (11/18/11)
- Market cap: $2.05 billion
- 2016 revenue: $3.14 billion
- 2016 adjusted EBITDA: $178.1 million
- IPO price: $9 (November 19, 2015)
- Price at the start of the year: $13.82
- Current price: $23.94
- Percentage change for the year: up 73 percent
- Percentage change from IPO: up 166 percent
- All time low closing: $8.43 (2/3/16)
- All time high closing: $24.28 (6/22/17)
- Market cap: $9.1 billion
- 2016 revenue: $1.7 billion
- 2016 adjusted EBITDA: $45 million
- IPO price: $20 (June 17, 2015)
- Price at the start of the year: $7.44
- Current price: $5.23
- Percentage change for the year: down 29.7 percent
- Percentage change from IPO: down 73.85 percent
- All time low closing: $4.99 (6/21/17)
- All time high closing: $51.64 (8/5/15)
- Market cap: $1.2 billion
- 2016 revenue: $2.17 billion
- 2016 adjusted EBITDA: $30 million
- IPO price: $14 (January 23, 2015)
- Price at the start of the year: $14.05
- Current price: $18.05
- Percentage change for the year: up 28.5 percent
- Percentage change from IPO: up 28.9 percent
- All time low closing: $9.12 (2/11/16)
- All time high closing: $23.23 (1/23/15)
- Market cap: $2.45 billion
- 2016 revenue: $302.7 Million
- Net loss: $569 million
- IPO price: $15 (March 2, 2012)
- Price at the start of the year: $38.5
- Current price: $30.16
- Percentage change for the year: down 21.7 percent
- Percentage change from IPO: up 101.6 percent
- All time low closing: $18.09 (12/16/12)
- All time high closing: $97.8 (3/6/14)
- Market cap: $2.45 billion
- 2016 revenue: $713.1 million
- 2016 adjusted EBITDA: $120.1 million
- IPO price: $26 (April 4, 2014)
- Price at the start of the year: $36.25
- Current price: $43.65
- Percentage change for the year: up 20.4 percent
- Percentage change from IPO: up 68.8 percent
- All time low closing: $18.34 (1/28/26)
- All time high closing: $47.7 (6/23/17)
- Market cap: $3.81 billion
- 2016 revenue: $493.3 million
- 2016 adjusted EBITDA: $144.6 million
- IPO price: $16 (April 16, 2015)
- Price at the start of the year: $11.79
- Current price: $15.01
- Percentage change for the year: up 27.3 percent
- Percentage change from IPO: down 6 percent
- All time low closing: $6.36 (2/9/16)
- All time high closing: $30 (4/16/15)
- Market cap: $1.8 billion
- 2016 revenue: $364.9 million
- 2016 adjusted EBITDA: $57.1 million
- IPO price: $15 (June 23, 2016)
- Price at the start of the year: $29.25
- Current price: $28.75
- Percentage change for the year: down 1.7 percent
- Percentage change from IPO: up 91.6 percent
- All time low closing: $23.17 (5/9/17)
- Market cap: $2.61 billion
- 2016 revenue: $277.3 million
- Net loss: $35.5 million
(Image source: pinterest.com)
Steven Loeb
