Money & Markets Week Ahead Week of September 20, 2021: Emphasize Toast Inc. IPO as more face-to-face meals are served in restaurants.
We will also look at the housing market situation with a preview of a survey of key homebuilders.
Toast IPO preview
NS Initial public offering The (IPO) market will be active again and many new products will be priced within a few days.
I would like to emphasize Toast IPO. Toast is a cloud-based end-to-end technology platform that supports the day-to-day operations of restaurants.
The Boston-based company plans to price an IPO on Thursday. Listed on the New York Stock Exchange under the TOST symbol.
what is that: Toast provides restaurants with software as a service (SaaS) and financial technology products, including payment processing.
As of June 30, 2021, Toast served approximately 29,000 clients, including more than 48,000 restaurant locations. S-1 filing. For the 12 months to June 30, the company processed over $ 38 billion in total payments. This allowed us to generate $ 1.2 billion in revenue over the same period.
IPO: Toast will raise $ 685 million in IPO. To reach that goal, we will offer 21.7 million shares in the $ 30- $ 33 price range. At the midpoint of that range, the market value of toast is $ 17.9 billion. According to Renaissance Capital..
Goldman Sachs, JP Morgan, Keybank Capital Markets, Morgan Stanley, Piper Sandler and William Blair are lead underwriters of the deal.
skinny: There are several things to do with a Toast IPO. It’s a cloud-based software and fintech company, and if the recent trend of investing in growing tech stocks continues, it’s a great sign of TOST.Check out the latest editions of Investing with Charles here For a detailed analysis of the broader fintech market.
It is also open to the public in the midst of a major economic recovery in the United States. Many restaurants were forced to close last year, but the location is reopening. According to the S-1 filing, Toast’s suite of products has actually helped many clients transform their business models during a pandemic.
Whether Toast can expand its customer base Economy Once recovered, you may be able to set it up well for the future.
Data Dump: US Building Permit
Earlier this year, the US housing market appeared to be heading for another bubble, as experienced in the late 2000s. The combination of low interest rates and COVID-related outflows from cities has pushed up prices everywhere.
An important indicator of housing market conditions is the monthly building permit survey. United States Census Bureau, We will publish the results of August on Tuesday.
The survey focuses on the number of new building permits, home starts, and home completions each month.
After the surge of 1.8 million new permits issued by the government in February 2021, the total monthly permits have been low throughout the summer.
However, demand is still rising compared to a year ago. In July, over 1.6 million new building permits were issued for privately owned residential units. This is 6% higher than July 2020, which marked the beginning of a home recovery from the COVID-19 pandemic.
skinny: The housing market has cooled slightly after soaring from late 2020 to early 2021. Builders are facing some major headwinds in terms of cost and supply, which means that the number of homes completed is small.
Demand and prices for existing homes should continue to rise as fewer new homes are on the market. It can lead to more consumers choosing to rent, boosting rents and affecting overall consumer prices.
Finally Money & Markets Week AheadLet’s take a look at some keys here Revenue This Week’s Report:
Lennar Corp. (NYSE: Len).
Adobe Systems Inc. (Nasdaq: ADBE).
FedEx Corp. (NYSE: FDX).
AutoZone Inc. (NYSE: AZO).
Aurora Cannabis Inc. (Nasdaq: ACB).
General Mills Inc. (NYSE: GIS).
BlackBerry Ltd. (NYSE: BB).
KB Home (NYSE: KBH).
Nike Inc. (NYSE: NKE).
Costco Wholesale Corp. (Nasdaq: cost).
Vail Resorts Inc. (NYSE: MTN).
9F Inc. (Nasdaq: JFU).
Assistant Managing Editor, Money & Market
PS Adam Odel releases his new details Wednesday wind and rain The strategy is live on September 23rd. During a live event, he will show you how a simple two-day deal has surpassed the market 51 times in the last 6 months. Click here to sign up for a live event.
Restaurant Revival May Boost This Software Co. Source link Restaurant Revival May Boost This Software Co.