The Battle Road IPO Review universe consists of more than 225 growth-oriented companies which have come public in the last eleven years in the following sectors: Software, Internet, Hardware, Consumer, and Business Services. The current composition of the universe is as follows:
The median market cap of the universe is $4.1 billion, and 65 percent of the universe ranges in value between $100 million and $10 billion. Thus, the primary audience is the small and mid-cap fund manager and analyst.
That said, the coverage universe includes the most important stock offerings in each of the above-mentioned sectors. Thus, Facebook (NASDAQ: FB), Twitter (NYSE: TWTR), Tesla Motors (NASDAQ: TSLA), Palo Alto Networks (NYSE: PANW), and Veeva Systems (NYSE:VEEV) are large cap stocks that are a part of the coverage universe.
In recent years, on a select basis, we have added spin-offs, and direct listings, such as Spotify Technology (NYSE: SPOT), Palantir Technologies (NYSE: PLTR), and Asana (NYSE: ASAN) to the Battle Roade IPO Review Coverage Universe. We do not include SPACs.
Over 95 percent of the universe is comprised of US securities, though we do add foreign stocks from time to time, when our clients request that they be added to the list, or when we believe the stock will be integral to our sector coverage. Overseas securities included in the coverage universe include MercadoLibre (NASDAQ: MELI), Ferrari (NYSE: RACE), Spotify Technology (NYSE: SPOT), Criteo (NASDAQ: CRTO), trivago (NASDAQ: TRVG), and Atlassian (NASDAQ: TEAM).