|Over a week ago|
Waterdrop initiated with an Overweight at Morgan Stanley » 07:1506/0206/02/21
Morgan Stanley analyst…
Morgan Stanley analyst Jenny Jiang initiated coverage of Waterdrop with an Overweight rating and $11.80 price target. Waterdrop's rapid commission revenue growth makes it attractive, while its crowdfunding business is a key feature that differentiates Waterdrop from peers, Jiang tells investors. The stock's current valuation is slightly higher than that of global insurtech names, but attractive relative to the company's roughly 50% growth profile, argues Jiang.
Fly Intel: Top five analyst initiations » 09:5206/0106/01/21
HNST, WDH, VCRA, SEEL, PSFE
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Honest Company (HNST) initiated with an Overweight at Morgan Stanley, a Buy at Guggenheim and Jefferies, an Outperform at Telsey Advisory and William Blair, and a Hold at Loop Capital. 2. Waterdrop (WDH) initiated with a Buy at BofA, CLSA and Goldman Sachs. 3. Vocera (VCRA) initiated with an Equal Weight at Morgan Stanley. 4. Seelos Therapeutics (SEEL) initiated with an Overweight at Cantor Fitzgerald. Paysafe (PSFE) initiated with a Positive at Susquehanna. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage click here.
Waterdrop initiated with a Buy at CLSA » 06:3706/0106/01/21
CLSA analyst Edwin Liu…
CLSA analyst Edwin Liu initiated coverage of Waterdrop with a Buy rating and $15.80 price target. With established brand recognition and superior customer acquisition abilities, Waterdrop is well positioned to benefit from the online life and health insurance "boom," Liu tells investors in a research note. Longer term, the company could build a second growth curve into the healthtech and insuretech space, says the analyst.
Waterdrop initiated with a Buy at BofA » 06:2106/0106/01/21
BofA analyst Michael Li…
BofA analyst Michael Li initiated coverage of Waterdrop with a Buy rating and $11.50 price target. The analyst is citing the company's position as the second largest online insurance distribution platform in China, forecasting health insurance growth in China to remain at 20%-25% in 2021-2023. Li adds that volume growth, take rate improvement, and cost control are the three key drivers of Waterdrop's profitability and sustainable development.
Waterdrop initiated with a Buy at BofA » 06:0606/0106/01/21
BofA initiated coverage…
BofA initiated coverage of Waterdrop with a Buy rating and $11.50 price target.
Waterdrop initiated with a Buy at Goldman Sachs » 04:4806/0106/01/21
Goldman Sachs analyst…
Goldman Sachs analyst Thomas Wang initiated coverage of Waterdrop with a Buy rating and $11 price target, implying 33% upside. Regulatory risks over short-term medical products' commission and rising competition from established healthcare platforms have raised concern over the long-term viability of Waterdrop business model, Wang tells investors in a research note. However, the analyst believes these concerns are largely priced in and sees an attractive risk/reward at current share levels. Wang sees a strong near-term growth outlook and opportunity for Waterdrop to become a healthcare ecosystem platform, linking its insurance customers with healthcare service providers.
Opening Day: ZipRecruiter, FIGS soar in market debuts » 08:5905/2905/29/21
SQSP, COIN, CNTA, OMIC, FIGS, RBLX, DAWN, ZIP, PAY, FLYW, FSBC, HNST, BWMN, ANEB, TALS, WDH, QNIU, SVFD, RGCB, CMSL, WKME, AMZN, F, GS, JPM, MS, UBER, LYFT, SAFO
Shares of ZipRecruiter…
|Over a month ago|
Opening Day: Jessica Alba's Honest Company raises over $400M in IPO » 10:2105/0805/08/21
SBUX, SAFO, COST, TGT, WDH, TALS, ANEB, BWMN, HNST, FSBC, ALF, APP, GLBE, SQSP, QNIU, SVFD, RGCB, CMSL, UBER, LYFT, BX
The consumer goods…
Waterdrop opens at $10.25, IPO priced at $12 per share 10:5205/0705/07/21
Waterdrop indicated to open at $10-$11, IPO priced at $12 10:3305/0705/07/21