| Over a week ago | ||||
The deal range was… The deal range was $47.70-$49.00. Goldman Sachs and Itau BBA acted as joint book running managers for the offering. | ||||
Arco Platform Limited… Arco Platform Limited announced the commencement of an underwritten public offering of 5.56M Class A common shares to be offered by General Atlantic Arco and Alfaco Holding. Arco will not receive any proceeds from the sale of Class A common shares by the selling shareholders. Neither Arco nor any other of its other shareholders, including its founding shareholders and members of management, are selling Class A common shares in this offering. Goldman Sachs and Itau BBA USA Securities are acting as underwriters in this public offering. | ||||
| Over a month ago | ||||
Credit Suisse analyst… Credit Suisse analyst Daniel Federle downgraded Arco Platform to Neutral from Outperform with a $46 price target. | ||||
UBS analyst Vinicius… UBS analyst Vinicius Ribeiro downgraded Arco Platform to Neutral from Buy with a higher price target of $57, up from $54. | ||||
Goldman Sachs analyst… Goldman Sachs analyst Diego Aragao lowered the firm's price target on Arco Platform to $56 from $62 and keeps a Buy rating on the shares. The analyst believes the company's secular growth and potential for margin expansion, as well as capital allocation upside, are still underappreciated. As a "one-stop-shop" platform that provides a complete pedagogical system with technology-enabled features to deliver a fully adaptive educational content in digital format to pupils in private schools in Brazil, Arco's distinctive business model offers a unique opportunity for investors to benefit from secular growth trends, Aragao tells investors in a research note. | ||||
| Over a quarter ago | ||||
Reports Q4 revenue… Reports Q4 revenue R$247.65M vs. R$121.01 last year. "2019 was a very successful year for Arco with several milestones achieved, such as the acquisition of Positivo and the expansion and diversification of our platform of solutions to schools. We concluded another very strong sales cycle, beating our initial expectations for both Arco stand-alone and Positivo, reaching 1,360,000 students spread throughout 5,400 schools. We are extremely excited with the opportunities ahead of us." said Ari de Sa Neto, CEO and founder of Arco. | ||||
Morgan Stanley analyst… Morgan Stanley analyst Javier Martinez De Olcoz downgraded Arco Platform to Equal Weight from Overweight with a $54 price target. | ||||
Reports Q3 revenue… Reports Q3 revenue R$70.57M vs. R$64.9M last year. "We successfully surpassed our ACV guidance for 2019 as a result of our tireless commitment with our clients. As we look forward, we are thrilled to announce strong expectations for ACV Bookings for 2020. This result reflects the consistency of our platform's superior academic results, the power of our competitive advantages and our focus on generating sustainable, long-term oriented results," said Ari de Sa Neto, CEO and founder of Arco. | ||||
The deal priced below the… The deal priced below the last closing price of $44.59. Goldman Sachs, Morgan Stanley and Itau BBA are acting as joint book running managers for the offering. | ||||
Arco Platform announced… Arco Platform announced that it has received final antitrust approval from Brazil's Administrative Council for Economic Defense - CADE, with no conditions, for its previously announced acquisition of Sistema Positivo de Ensino. The acquisition is expected to close in the near term. | ||||