Infoblox, Proofpoint IPOs Price High, Trade Higher
By AMY REEVES, INVESTOR'S BUSINESS DAILY
Posted 11:22 AM ET
Posted 11:22 AM ET
Enterprise software companies Infoblox (BLOX) and Proofpoint (PFPT) continued the hot streak for tech IPOs as they both priced well and rose in early trading Friday.
Infoblox, which sells appliances that automate IP management and network control, priced at 16 late Thursday, above its expected range of 14-16, to raise $120 million. By midmorning Friday, the stock was up nearly 41%. Proofpoint, which provides cloud-based security software for enterprises, raised $82 million after it priced at 13 early Friday, vs. its expected range of 10-12. It was up about 30%.
Neither of them was quite as hot as Splunk (SPLK), which soared nearly 109% in its stock market debut on Thursday after nearly doubling its planned deal size. Splunk's reception probably encouraged investors to open their wallets, as the three firms have certain things in common. All of them are fairly recent, but not brand-new tech startups that have yet to make a profit but have ramped up to significant annual revenue. All of them are also, in some way, benefiting from the vast proliferation of data in computer networks, and the need to manage and protect it.
Infoblox Inc (NYSE: BLOX)
21.81 
+5.81 +36.31%
+5.81 +36.31%
MORE ON BLOX
DETAILS
| Previous Close | 16.00 |
| Open | 22.50 |
| Day's High | 23.35 |
| Day's Low | 21.30 |
| Volume | 7.37 Mil |
| Avg Daily Vol (13 Wks) | NA |
| Bid | 22.05 |
| Bid Size | 200 |
| Ask | 22.08 |
| Ask Size | 700 |
| 52-Wk High | NA |
| 52-Wk Low | NA |
| Dividend Rate | NA |
| Yield | NA |
- Quotes delayed 15 min
- Last trade 4/20/2012 12:50 PM ET
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