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Top IPO Stocks to Invest In This Week
December 09 2019 - These 5 New IPO Stocks Are Near Buy Points By Investors Business Daily
IPO stocks are hot right now, with several 2019 new issues acting bullishly, trading near buy points. Chinese Starbucks (SBUX) rival Luckin Coffee (LK) is one of five IPO stocks worth adding to your watch list this week. Dynatrace stock, Progyny stock, Datadog stock and Ping Identity stock round out the quintet.
Fertility services specialist Progyny (PGNY), cybersecurity play Ping Identity (PING) and app monitoring software maker Dynatrace (DT) are all profitable, while cloud software name Datadog (DDOG) is barking at the door of profitability. Luckin Coffee stock is a big money loser, but has tremendous sales growth.
But while it's tempting to buy a brand-new IPO stock, investors are usually better off waiting until the new issue consolidates, even for a relatively short time. An IPO base can be as short as seven trading sessions, though they can often be longer.
Luckin Coffee Stock
Shares closed up 2.7% at 29.69 in Friday's stock market trading. Luckin Coffee stock is just above its buy zone after breaking out from a 15-week consolidation, MarketSmith analysis shows. The ideal buy point is 27.22.
Luckin Coffee stock could dip back into the buy zone. Alternatively, investors could buy the stock when it clears its high. While it's hard to see on a daily chart — use a weekly chart — Luckin Coffee does have a three-weeks-tight pattern, with a 33.58 entry.
While it has tailed off somewhat in recent weeks, the relative strength line is just off record highs. Its sharp recent upward spike reflects how Luckin Coffee stock has lapped the S&P 500 index for a few weeks in November. The stock has a mediocre IBD Composite Rating of 58, though much of this reflects its heavy losses.
Luckin Coffee stock surged higher after it posted an earnings report that topped views amid breakneck sales growth of 512%. The firm is ambitiously aiming to pass Starbucks in terms of coffee shops in China.
Luckin Coffee stock went public in May after pricing at 17 per share. Shares hit a record low of 13.71 on May 23.
Dynatrace stock closed down 2.8% at 24.41 heading into the weekend. It has formed a cup base. Dynatrace stock now has a handle on a weekly chart, giving it a 27.29 buy point. The handle will appear on a daily chart after Monday.
While the depth of the cup formation was a deep 38%, its IPO came during a market correction, with software names hard hit.
Dynatrace stock fell 8.1% last week in the heaviest volume since its early August IPO. That reflects an offering of 27.5 million shares on behalf of existing holders.
Dynatrace said its software provides an all-in-one intelligence platform designed to address the growing complexity faced by technology and digital business teams.
While it is an IPO stock, Waltham-Mass.-based Dynatrace has been around long enough to lead the APM (application performance management) market. The recent Stock Of The Day has around 13% market share, followed by Cisco Systems (CSCO) at 12%, New Relic (NEWR) at 11% and Splunk (SPLK) at 6%, according to a Jefferies report in August.
Dynatrace stock is held by a number of highly rated funds. Nevertheless, only 10% of its total stock is currently held by institutional shareholders at the moment. Investors should also be aware that private equity firm Thoma Bravo could reduce its stake or exit entirely in future offerings.
Progyny stock spiked 9.4% to 30.49, clearing an IPO base buy point of 29.39 on Friday. However it remains within it 5% chase zone. It is now trading for more than double its IPO price.
New York-based Progyny manages fertility benefits for employees at large firms. Key clients include tech giants such as Alphabet (GOOGL), Facebook (FB) and Microsoft (MSFT). With fertility rates declining and more women delaying having children, Progyny could face big demand.
Progyny stock debuted on the Nasdaq in October, with an IPO price of 13 per share. Shares rose 22% to 15.94 in their debut.
Another reason Progyny stock stands out: It's been profitable in the past two quarters after slashing annual losses. Sales have enjoyed triple-digit growth in each of the last five quarters and nine of the last 10.
The first Progyny earnings report as a public company came late Wednesday. That triggered an upside reversal Thursday for Progyny stock and Friday's breakout.
Datadog stock plunged 12% last week, edging up 0.1% to 35.91 on Friday. That price is extremely significant. By closing at 35.91 or above on Dec. 6, about 20% of locked-up Datadog shares will be released early, on Monday.
Datadog stock fell 4.5% late Friday, signaling a move below its 50-day line after already finishing just below its 10-week line.
Datadog stock surged after the cloud-based software firm released strong results Nov. 13, its first quarterly report since its September IPO, losing just 1 cent a share adjusted for a second straight quarter. Rising to 44.09 on Nov. 25, the IPO stock has since surrendered its gains.
With Datadog stock likely to open lower Monday, investors should look to see if it can recover to reclaim its 50-day/10-week line. While a powerful rebound from that area might offer an entry for especially daring investors, a more conventional entry could be 44.19, just above the all-time high.
One reason to be cautious is the relative strength line, which has fallen sharply over the last several days. Datadog stock was named IBD Stock Of The Day after shares exploded higher following its earnings report
The Datadog IPO priced 24 million shares at 27 in September. DDOG stock has a poor Composite Rating of 42.
Founded in 2010, Datadog operates a monitoring and analytics platform for software developers and information technology departments. Developers and IT operations teams use its cloud-based tools to monitor software applications and computer infrastructure. Customers access its cloud platform via the internet.
Raymond James analyst Michael Turits recently initiated Datadog stock with a market perform rating based on valuation. He noted DDOG stock is "gaining share" in a "competitive space."
Ping Identity Stock
The cybersecurity IPO stock closed down 3.4% at 20.69, capping a sharp retreat from Wednesday's intraday peak of 23. Ping Identity stock is now just below its 21.10 buy point after breaking out from a cup-shaped IPO base. The stock has already made a substantial gain on its IPO price of 15 following its stock market bow on Sept. 19.
Investors could still buy Ping Identity stock if it retakes its initial buy point, or if it clears its record high.
Ping Identity stock has a Composite Rating of 77, relatively impressive for an IPO stock.
Ping Identity is a leader in the zero-trust cybersecurity space. It is touted as offering more protection by treating users inside a network with as much suspicion as those outside of it. Ping's products authenticate the identity of network users and ensure their devices are free of malware before allowing them access to applications.
Nevertheless it has formidable competition from the likes of Okta (OKTA) and CyberArk Software (CYBR). It has won a number of high-profile customers including Applied Materials (AMAT) and Netflix (NFLX).
IPO Stocks Are Hot — Too Hot? Even with a proper base, IPO stocks tend to be volatile. While they offer the possibility of big, sudden gains, they can fall just as fast, as Dynatrace stock, Luckin Coffee stock and the others listed here make clear. Do your research, buy judiciously, and set a line in the sand to limit IPO stock losses.
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