Cloud-technology cybersecurity company CrowdStrike (CRWD) - Get Report kicked off its initial public offering on a high note on Tuesday, opening for trading at $63.50 a share, well above its IPO price of $34.
The Sunnyvale, Calif.-based company, which uses the slogan "Breaches Stop Here," was expected to price its 18 million Class A shares at between $28 and $30 a share, netting it approximately $600 million.
CrowdStrike joins several other big tech companies that have taken the IPO route this year, including Uber (UBER) - Get Report , Pinterest (PINS) - Get Report , Zoom Video (ZM) - Get Report and Lyft (LYFT) - Get Report -- and one big non-tech IPO, Beyond Meat (BYND) - Get Report .
Office-messaging platform provider Slack is expected to follow later this month.
CrowdStrike reported a net loss of $140 million on $250 million in revenue for its fiscal year ended in January, according to its S-1 filing with the U.S. Securities and Exchange Commission.
At last check, the stock was up 76%, or $25.84 a share, at $59.84.
The company provides endpoint security, threat intelligence, and incident response services in more than 170 countries.