AppDynamics, Inc. (Nasdaq: APPD) Set to Be 2017’s First Unicorn IPO

AppDynamics, Inc. (Nasdaq: APPD)

San Francisco, CA-based AppDynamics will be the first tech “unicorn” to test the IPO waters this year. Reports suggest that the application performance management firm is looking to raise upwards of $150 million in the market. SEC filings indicate that 12 million shares will be listed with an initial pricing around $12.

AppDynamics sells software to businesses that measures their own software and infrastructure performance. The company states in its regulatory filing that their software can ““enable our customers to align the objectives of their business, product development and IT operations teams.” While revenue growth has been good, AppDynamics lost $92 million in 2015 and $95 million in 2016.

The performance measurement sector is only worth about $3 Billion and AppDynamics, according to reports, values itself between $1.2 and $1.5 Billion. Given that other tech giants such as IBM and Microsoft also occupy the space, investors may feel that the $12 IPO price could be reaching.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.