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Stay away from Goldman Sachs after monster rally this year, Citizens says

CNBC: Investing

"Accordingly, while we are bullish on the business, we see the risk/reward as balanced and we will evaluate for a new entry point or developments that change our valuation framework." " Ryan added that the last time he upgraded Goldman Sachs was in January 2020, when the stock traded at around $220.

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Hopin, the struggling virtual conference unicorn, sells events and engagement units to RingCentral

TechCrunch: M&A

Hopin , the virtual events startup that saw its star (and valuation) rise quickly during the COVID-19 pandemic, is most definitely coming down to earth. Today the company announced that it has sold its Events and Session business units to RingCentral for an undisclosed sum. It will be using the new assets to further diversify its business.

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Public SaaS Company Valuations and What They Mean for Private Companies

Software Equity Group

SEG’s 2023 Annual SaaS Report provides a comprehensive analysis of the public SaaS market’s performance and M&A activity in the software industry. Our report provides context for private companies to better understand factors influencing their valuations and evaluate how they can position themselves within a changing marketplace.

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SaaS M&A Snapshot: Target Market & Buyers

Software Equity Group

The SEG Index, a collection of 116 public SaaS companies, fell by 48.2%. After the unprecedented market highs of 2020 into 2021, it’s natural for founders in this environment to wonder if they’ve missed the boat. was only a slight decline from 2020’s 5.7x After the market exuberance of 2020 and 2021, peaking at 8.0x

M&A
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Will There Be an IPO for a Specialty Consulting Company in 2024?

Focus Investment Banking

There are only a few publicly traded companies in specialty consulting. But those companies have been public for more than 20 years. While the company generated over $260 million in revenues through the first three quarters of 2023, its stock price is trading under a dollar a share, as the company is burdened with substantial debt.

IPO
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Highlights from Cooley’s M&A Dealmakers Roundtable: SPACs!

Cooley M&A

As reflected in Chart 1 , 102 SPAC IPOs have been announced this year as of September 18, 2020—almost double the number of SPAC IPOs in all of last year (and more than double the number of SPAC IPOs in 2018). Valuation Certainty. A distinct feature of SPAC 3.0 is the increased frequency at which SPAC IPOs are occurring.

M&A
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Keeping Up with Delaware Appraisal Jurisprudence Since Aruba: Deal Price Reigns Supreme, But Will Recent Decision Lead to More Arbitrage?

Cooley M&A

However, the court’s January 2020 decision in the Panera appraisal proceeding provides a cautionary tale about the downside of prepaying the deal price for appraisal shares. Panera Bread was a publicly traded company that JAB Holdings B.V. Selected Appraisal Decisions Since Aruba Using Valuation Method Other than Deal Price.