SANTA CLARA, Calif. (TheStreet) -- Shares of Infoblox (BLOX) climbed rapidly on the company's debut as a public company on Friday, just a day after big data specialist Splunk (SPLK) enjoyed a massive IPO pop.
Network automation specialist Infoblox priced its shares at $16 a share on Thursday. The company's stock was up $5.55, or 34.69%, to $21.55 in afternoon trading as investor appetite for tech IPOs continued. Trading on the New York Stock Exchange, Infoblox opened at $22.50.
A rival of BMC (BMC) and Alcatel-Lucent (ALU), Infoblox touts the ability to help companies manage their rapidly expanding and increasingly complex network infrastructures. The Santa Clara, Calif.-based firm lists semiconductor specialist Marvell (MRVL), IBM (IBM), Best Buy (BBY) and TiVo (TIVO) as customers
Infoblox brought in revenue of $132.8 in 2011, up from $61.7 million in 2009. The company's net loss also narrowed over the same period, from $10.4 million in 2009 to $5.3 million in 2011.Another tech company, security software maker Proofpoint (PFPT) began trading on the Nasdaq on Friday, with shares climbing $1.01 cents, or 7.77%, to $14.01. The Microsoft (MSFT) and VMware (VMW) partner priced its offering at $13 a share. Splunk shares slipped 0.08% to $35.45 on Friday after closing up 108.71% on Thursday, when the company made its Nasdaq debut. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV