Motricity (MOTR), which provides a software platform for mobile phones, was initially forced to slash its offer price to $10 to $11 from $14 to $16.
In June, Motricity raised $50 million -- a far cry from the $250 million the company had originally hoped to raise when it first filed.But the Bellevue, Wash., company's fortunes have turned around since then. The company's stock price has skyrocketed more than 102% since its first day of trading. Motricity posted revenue of $113 million in 2009, up from $35 million two years prior, and JP Morgan analyst Sterling Auty recently raised its 12-month price target to $31. (Shares are currently trading at about $18.77.) "We believe new carrier momentum will continue and in our opinion, this is the best stock in our coverage to capture mobile data growth," he wrote in a recent investor note. --Written by Olivia Oran in New York.
>To follow the writer on Twitter, go to http://twitter.com/ozoran. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV