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Arm, Instacart and Klaviyo’s earnings are another reason for IPO buyers’ remorse

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After their IPOs fizzled in the aftermarket, the companies first earnings reports also missed the target

First their initial public offerings fizzled in the days following their debuts. Now their earnings have disappointed.

“These companies went public at nosebleed valuations,” said Trainer. “Investors should avoid investing in stocks with such high valuations. Just because a company goes public, doesn’t mean it’s a good investment. Remember Wall Street tried to IPO WeWork at a $47 billion valuation, and its equity is worth $0 today.”The biggest deal of the three was that of Arm, which was widely anticipated and touted as a test of appetite for big tech deals, coming after a glut of such offerings.

But its guidance for the third quarter of $720 million to $800 million in revenue, along with 21 cents to 28 cents in adjusted EPS, disappointed investors by coming up short at the midpoint. The FactSet consensus was for $776 million on the top line and 27 cents in adjusted EPS. Read now: Instacart IPO: 5 things to know about the app that’s looking to ride a ‘massive digital transformation’ in grocery shopping

 

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