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Check Out This Week's Biggest IPOs Capping Off A Busy June

Published 06/25/2018, 02:09 AM
Updated 07/09/2023, 06:31 AM
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Headline worthy initial public offerings have been few and far between recently, and a few major tech companies have grabbed much of the IPO spotlight so far this year, including Spotify SPOT and Dropbox (NASDAQ:DBX) . With that said, June could end up being the busiest month for IPOs in a long time, and this week is packed once again.

Recent IPOs

Spotify stock closed its first day of trading in early April at a price that valued the company at $26.5 billion, which helped it land as the eighth-largest tech IPO after one day of trading, directly behind Google and (NASDAQ:GOOGL) and Snap (NYSE:SNAP) . Aside from Spotify and Dropbox, Docusign Inc DOCU and Smartsheet (NYSE:MA) were a few other notable 2018 tech IPOs.

Meanwhile, many investors have been looking forward to IPOs from Uber and Airbnb. But those industry-changing tech companies look poised to wait until at least 2019 to go public—although Uber rival Lyft could reportedly go public in late 2018.

Since the start of June, 22 companies have gone public, with 12 more expected to IPO this week. In fact, if all the planned initial public offerings are completed this week, it would be the busiest IPO month since June 2015, according to Renaissance Capital. So let’s take a look at a few of the bigger IPOs expected this week and quickly break down what the companies do.

BJ's Wholesale Club (BJ) - Deal Size: $600 million Exchange: NYSE

BJ’s Wholesale is a membership-based grocery chain that operates over 200 stores across the East Coast, competing against the likes of Costco (NASDAQ:COST) . The company was taken private by Leonard Green & Partners LP and CVC Capital Partners Ltd in 2011 for roughly $2.8 billion.

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BJ’s Wholesale reported annual sales of $12.75 billion last year and turned in a profit of $50.3 million. The company is set to go public amid changing times for the grocery industry. Yet, the talk of doom and gloom seems to have calmed down for the time being since Target (NYSE:TGT) , Walmart (NYSE:WMT) , and Kroger (NYSE:KR) have all proven their ability to fight back against likes of Amazon (NASDAQ:AMZN) (also read: Should You Buy Grocery Stocks, WMT, COST, TGT, After Kroger's Strong Quarter?).

The company’s IPO is expected to be priced between $15 per share and $17 per share, offering 37.5 million shares. Bank of America Merrill Lynch (NYSE:BAC) is one of the lead underwriters.

BrightView Holdings (BV) - Deal Size: $501 million Exchange: NYSE

BrightView is a Plymouth Meeting, Pennsylvania-based commercial landscaping design and maintenance services company, which operates mostly in the U.S. BrightView works in an array of fields, including water management, golf, sports turf, snow and ice removal, and many more.

Goldman Sachs (NYSE:GS) is the lead underwriter for the company that plans to list 21.3 million shares at between estimated $22 per share and $25 per share.

Domo (DOMO) Deal Size: $189 million Exchange: Nasdaq

Domo (DOMO) is one of the most highly anticipated IPOs this week, mostly because of its one-time standing as a unicorn company—a private startup valued at over billion dollars. However, its valuation has plummeted 75% from its last funding round. Domo noted that the middle of its IPO pricing is expected to be $20.50 per share.

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Domo is a company that investors might want to pay close attention to over the first couple of months as its real-time business data analytics software competes against the likes IBM (NYSE:IBM) , Microsoft (NASDAQ:MSFT) , and Oracle (NYSE:ORCL) . The Utah-based company’s clients include Mastercard (NYSE:MA) and eBay (NASDAQ:EBAY) .

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

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International Business Machines Corporation (IBM): Free Stock Analysis Report

Bank of America Corporation (BAC): Free Stock Analysis Report

Amazon.com, Inc. (AMZN): Free Stock Analysis Report

eBay Inc. (EBAY): Free Stock Analysis Report

Alphabet Inc. (GOOGL): Free Stock Analysis Report

Snap Inc. (SNAP): Free Stock Analysis Report

Microsoft Corporation (MSFT): Free Stock Analysis Report

Oracle Corporation (ORCL): Free Stock Analysis Report

The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report

Walmart Inc. (WMT): Free Stock Analysis Report

Target Corporation (TGT): Free Stock Analysis Report

Costco Wholesale Corporation (COST): Free Stock Analysis Report

The Kroger Co. (KR): Free Stock Analysis Report

Mastercard Incorporated (MA): Free Stock Analysis Report
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Dropbox, Inc. (DBX): Free Stock Analysis Report

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