ServiceSource -- up 57%
(SREV - Get Report)
debuted in late March, pricing 11.9 million shares at $10 each, above a projected range of $7.50 to $9 each, to raise $119 million. The stock closed Thursday at $15.84.
The San Francisco-based maker of revenue-management software applications is enjoying some benefit from its association with the cloud after
paid a 52% premium for
ServiceSource helps companies manage maintenance, support and subscription agreements for tech companies. For the third quarter ended Oct. 31, the company posted non-GAAP earnings of $1.1 million, or a penny per share, on revenue of $50.1 million, up more than 30% year-over-year.
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Written by Debra Borchardt in New York.
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