• Triton

Triton IPO Scores 101

Zscaler was the 101st tech IPO Triton has Scored so we performed a detailed correlation analysis to address one question: do Triton Scores make money for subscribers? Over four years and 101 tech IPOs, price performance based on Triton Scores was this:

Above-average Triton Scores outperformed the broad group by 14% on the first trading day alone, and outperformed the below-average Triton Scores by 28%

At 270 days, the outperformance of the above-average Triton Scores over the broad group was 20%, and the above-average Triton Scores outperformed the below-average Triton Scores by 44%

Zscaler’s 7.02 Triton Score ranked 26th out of 101, one away from the top quartile

  • The increased filing range and 106% one-day return were consistent with its well above-average Triton Score

  • Zscaler was tied for 26th with BlackLine, just below Acacia (7.09) and above Gogo (7.00)

Dropbox’s Triton Score was among the highest Triton Score to date, and the deal will price tomorrow

  • This morning’s increased filing range to $18-$20 from $16-$18 is consistent with this top-10 Triton Score

  • Dropbox was tied with Shopify and Criteo, just below Grubhub and above 58.com (7.60)

iQIYI and Bilibili are both in the market now with Triton Scores firmly in the bottom quartile of Triton Scores to date