Tag: raised

M1 Finance closes $45M Series C mere months after it raised its $33M Series B

By iwano@_84

Just months after it announced a $33 million Series B, Chicago-based M1 Finance today disclosed a $45 Series C.

The new financing event was led by Left Lane Capital, the same investor that led M1’s Series B. Bear in mind that so-called inside rounds are now a bullish sign in 2020, as opposed to in prior VC eras when they were viewed more cooly. Other M1 investors include Jump Capital, Clocktower Technology Ventures and Chicago Ventures, though only the first two appear to have taken part in this round.

Per M1, the Series C comes just 120 days after it raised a Series B. A good question is why M1 has raised more capital, and why Left Lane Capital wanted to lead two rounds for the consumer-focused fintech provider. Going back to our prior coverage, we can figure it out.

In February, we reported that M1 Finance had reached the

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Concerns raised over Amazon’s plan for Michigan State Fairgrounds site

By iwano@_84

Detroit city leaders are working to address community concerns about a development plan that would bring a nearly 4-million-square-foot Amazon fulfillment center to the site of the former Michigan State Fairgrounds.

Several elements related to the proposed $16 million sale of 138 acres of land to real estate developers and investors Hillwood Investment Properties and Sterling Group were discussed before the Detroit City Council’s Planning and Economic Development committee on Thursday. The issue will return for further discussion next week.

“For me, at least there was no intention at all today to pass this item,” said Detroit Councilman James Tate, chair of the three-member committee. “I’ve talked to my colleagues and there are still a number of questions. Just listening today to colleagues on this there appear to

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Amazon Price Target Raised to Wall Street High by Pivotal

By iwano@_84

Investors and analysts have been framing the Amazon  (AMZN) – Get Report sum-of-the-parts valuation wrong, according to a Pivotal Research analyst, who raised his price target for the internet retail giant to $4,500 from $3,925.

Shares of the Seattle-based Amazon were up 1.6% on Thursday to $3,200.08.

Analyst Michael Levine, who kept a buy rating on the shares, said in a note to clients that Amazon’s advertising was only 5% of revenue, but is a “far greater contributor” to overall non-Amazon Web Services EBIT margins than Wall Street recognizes.

“Said differently,” the analyst said, “if advertising was viewed as a stand-alone business unit … it would represent well north of 300% of 2020E non-AWS EBIT.”

Based on his view that there is “massive upside” to estimates by fiscal year 2024, the analyst increased the firm’s target to a Wall Street-high of $4,500. 

Levine thinks investors are “materially underestimating”

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Alphabet (GOOGL) Price Target Raised to $1,800 Following Results of Consumer Behavior Survey at Morgan Stanley

By iwano@_84

On Thursday, analysts at Morgan Stanley published a note discussing an AlphaWise survey they conducted to see what search engine was dominant when consumers surfed online to compare prices between products.

The AlphaWise data that was collected reflected the importance of Google in our everyday life as the results stated that approximately 50% of Americans use Google’s search engine first when researching products online. Additionally, even 33% of Amazon Prime members check Google first when comparing prices, according to the survey results. The results conclude that Google remains at the top of the hill when it comes to U.S e-commerce consumer behavior.

Analyst Brian Nowak was galvanized by the survey results and took action by raising the firm’s price target to $1800 (from $1760) and keeping an Overweight rating on the shares. Nowak commented that “Our AlphaWise survey showcases how Google remains top of funnel within US e-commerce consumer behavior.”

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Coupa Software’s Price Target Raised to $330 with Overweight Rating, $466 in Best Case: Morgan Stanley

By iwano@_84

The company forecasts total revenues between $123.0 to $124.0 million for the third quarter and between $496.5 to $498.5 million for the full-year fiscal 2021.

“Most investors clearly see the impact COVID has had on Coupa’s growth in FY21, which we think creates an opportunity to own one of the premier SaaS assets ahead of a potential growth acceleration into FY22,” Morgan Stanley’s Adam Jonas said.

“We see a fairly clear runway for Coupa getting to mid-30% revenue growth in FY22 through: 1) organic growth of 25-30%; 2) Coupa Pay starting to hit revenue more materially – we estimate ~$60M potential; 3) $20-$25 million from Bellin acquisition; 4) $10-$15 million from Yapta acquisition as corporate travel resumes. Compared to current consensus FY22 growth of ~26%, we see the potential for Coupa to deliver the beat/raise cadence moving forward and outperform Street expectations through the year.”

At the time of writing,

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