Infoblox Busts Big IPO Move
SANTA CLARA, Calif. (
) -- 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) - Get Splunk Inc. Report
enjoyed a
.
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
TheStreet Recommends
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) - Get Marvell Technology, Inc. Report
,
IBM
(IBM) - Get International Business Machines Corporation Report
,
Best Buy
(BBY) - Get Best Buy Co., Inc. Report
and
TiVo
(TIVO) - Get TiVo Corp. Report
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) - Get Proofpoint, Inc. Report
began trading on the
Nasdaq
on Friday, with shares climbing $1.01 cents, or 7.77%, to $14.01. The
Microsoft
(MSFT) - Get Microsoft Corporation Report
and
VMware
(VMW) - Get VMware, Inc. Class A Report
partner priced its offering at $13 a share.
Splunk shares slipped 0.08% to $35.45 on Friday after closing up
on Thursday, when the company made its
Nasdaq
debut.
--Written by James Rogers in New York.
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