For the first time in a number of weeks, SaaS multiples did not hit another all-time high, and in fact came down. Read more about the SaaS pullback from this week below! Highlight of the Week - nCino IPO nCino priced their IPO at $31 / share on Monday raising $250M (they upsized the offering to 8.065M shares) and giving them an initial market cap of ~$3B. The stock then opened at $71 (129% pop), and traded up to $82 giving it a market cap of ~$7.6B. It is now trading at $71 giving it a market cap of $6.9B and an implied forward revenue multiple of ~32x (assuming 35% forward growth). Even though the limited float (something I talk about
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Clouded Judgement - 7.17.20
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For the first time in a number of weeks, SaaS multiples did not hit another all-time high, and in fact came down. Read more about the SaaS pullback from this week below! Highlight of the Week - nCino IPO nCino priced their IPO at $31 / share on Monday raising $250M (they upsized the offering to 8.065M shares) and giving them an initial market cap of ~$3B. The stock then opened at $71 (129% pop), and traded up to $82 giving it a market cap of ~$7.6B. It is now trading at $71 giving it a market cap of $6.9B and an implied forward revenue multiple of ~32x (assuming 35% forward growth). Even though the limited float (something I talk about