Beyond Meat targeting $25 per share at its IPO debut
Joining the cohort of IPO debutants this year like Lyft (LYFT) and Uber, plant-based manufacturer of meat substitutes, Beyond Meat, has priced its initial public offering at $25 per share targeting the top end of the company’s expected range of between $23 to $25 a share. The company also confirmed an offer of 9.625 million in common shares.
At the said IPO price, Beyond holds an implied market valuation of $1.46 billion.
In a previous filing with SEC, Beyond said that it expects to raise $183.8 million through its IPO, the proceeds of which will go towards investments in manufacturing facilities, research and development, and sales and marketing.
Last year, the company clocked in a revenue of $87.9 million along with a net loss of $29.9 million.
Other companies underwriting their IPO this year include Goldman Sachs (GS), JPMorgan (JPM), Credit Suisse (CS), Merrill Lynch (MERI), Pierce, Fenner & Smith, Jefferies and William Blair.
LYFT sees MACD Histogram crosses below signal line
LYFT saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on May 05, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 30 instances where the indicator turned negative. In of the 30 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
LYFT moved below its 50-day moving average on May 05, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for LYFT crossed bearishly below the 50-day moving average on May 11, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where LYFT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where LYFT's RSI Indicator exited the oversold zone, of 33 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 45 cases where LYFT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on LYFT as a result. In of 68 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where LYFT advanced for three days, in of 234 cases, the price rose further within the following month. The odds of a continued upward trend are .
LYFT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 156 cases where LYFT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.292) is normal, around the industry mean (31.382). P/E Ratio (0.000) is within average values for comparable stocks, (167.504). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (4.103). Dividend Yield (0.000) settles around the average of (0.033) among similar stocks. P/S Ratio (0.718) is also within normal values, averaging (70.837).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. LYFT’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. LYFT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock worse than average.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
