Benefitfocus, which provides a cloud-based platform for employee benefits management, soared nearly 102% in its market debut on Wednesday, sliding into third place for best first-day return in 2013, behind Sprouts Farmers Market (SFM) and Noodles & Company (NDLS). The company raised $131 million after pricing at $26.50, well above its original range of $21.50 to $24.50. Benefitfocus has also earned the title of best first-day gain for a technology company in 2013, and joins three other enterprise software IPOs (MKTO, DATA, and CVT) on 2013's list of top ten first-day performances.
| Top 10 First-Day Returns in 2013 |
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|---|---|---|---|---|---|
| Company | Ticker | Industry | Deal Size ($mm) | First Day Return | Total Return |
| Sprouts Farmers Market | SFM | Consumer | $333 | 122.8% | 125.3% |
| Noodles & Company | NDLS | Consumer | $96 | 104.2% | 152.8% |
| Benefitfocus | BNFT | Technology | $131 | 102.1% | 102.1% |
| Marketo | MKTO | Technology | $79 | 77.7% | 170.5% |
| Agios Pharmaceuticals | AGIO | Health Care | $106 | 73.8% | 50.7% |
| Tableau Software | DATA | Technology | $254 | 63.7% | 134.9% |
| OncoMed Pharmaceuticals | OMED | Health Care | $82 | 59.9% | -1.6% |
| Xoom | XOOM | Financial | $101 | 59.3% | 99.9% |
| bluebird bio | BLUE | Health Care | $101 | 58.3% | 59.1% |
| Cvent | CVT | Technology | $118 | 56.8% | 98.4% |
