SurveyMonkey (SVMK) stock jumped Wednesday with a bigger initial public offering than planned and shares that were priced above expectations.
The SurveyMonkey IPO priced shares at 12 each, above the expected range of 9 to 11. Shares opened during morning trading at 18.75 for a 56% gain on the stock market today. Shares closed at 17.24, up 43.7%.
The provider of online services for conducting surveys late Tuesday offered 15 million shares, up from an original plan for 13.5 million shares. That brought the offering’s total value to $180 million.
For the six-month period ended June 30, it reported revenue of $121.2 million. That was up 14% from the year-ago period, with a net loss of $27.2 million. The company says it has more than 60 million registered users and 16 million active users globally, according to its IPO prospectus.
The company’s products integrate with software and application partners that include Salesforce.com (CRM), Oracle (ORCL), Microsoft (MSFT) and Google.
12 IPOs Expected This Week
The SurveyMonkey IPO is one of 12 IPOs expected to trade this week. Three of the IPOs are from companies based in China and 6 of the 12 come from the biotech sector.
Among other China-based companies, electric scooter startup Niu Technologies filed Monday for an initial public offering. It looks to raise $150 million. Niu plans to list on the Nasdaq under the ticker NIU, according to the Niu IPO prospectus. A trading date and pricing haven’t been announced.
Niu makes and sells what it calls “high-performance smart e-scooters.”
The scooters use lithium-ion battery technology and consist of three models. For the six-month period ended June 30, Niu reported revenue of $84.2 million, up 95% from the year-ago period, with a net loss of $27.9 million.
The biggest stock market winners typically make their major price moves within a few months or years of their initial public offering. So it pays to identify and track companies that are getting ready to go — or have recently gone — public.
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