Benefitfocus becomes next hot cloud software IPO, soars 102% in market debut

By
A A A
Share |

Benefitfocus, which provides a cloud-based platform for employee benefits management, soared nearly 102% in its market debut on Wednesday, sliding into third place for best first-day return in 2013, behind Sprouts Farmers Market ( SFM ) and Noodles & Company ( NDLS ). The company raised $131 million after pricing at $26.50, well above its original range of $21.50 to $24.50. Benefitfocus has also earned the title of best first-day gain for a technology company in 2013, and joins three other enterprise software IPOs (MKTO, DATA, and CVT) on 2013's list of top ten first-day performances.

Top 10 First-Day Returns in 2013
Company Ticker Industry Deal Size ($mm) First Day Return Total Return
Sprouts Farmers Market SFM Consumer $333 122.8% 125.3%
Noodles & Company NDLS Consumer $96 104.2% 152.8%
Benefitfocus BNFT Technology $131 102.1% 102.1%
Marketo MKTO Technology $79 77.7% 170.5%
Agios Pharmaceuticals AGIO Health Care $106 73.8% 50.7%
Tableau Software DATA Technology $254 63.7% 134.9%
OncoMed Pharmaceuticals OMED Health Care $82 59.9% -1.6%
Xoom XOOM Financial $101 59.3% 99.9%
bluebird bio BLUE Health Care $101 58.3% 59.1%
Cvent CVT Technology $118 56.8% 98.4%



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: BNFT , NDLS , SFM

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

Most Active by Volume

114,447,456
  • $16.04 ▼ 2.14%
58,949,028
  • $58.86 ▼ 0.39%
45,128,292
  • $36.02 ▲ 5.29%
39,282,197
    $26.77 unch
34,733,394
  • $3.15 ▲ 1.94%
29,026,871
  • $85.57 ▲ 0.61%
28,152,540
  • $13.29 ▲ 1.84%
18,902,866
  • $26.007 ▲ 0.72%
As of 4/16/2014, 01:57 PM