IPO Check-In: The Cybersecurity Stock on Fire and the Disappointing Telecom Debut

Rapid7 Inc (RPD) is leading the IPO freshmen class today

Jul 17, 2015 at 2:47 PM
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It's been a busy couple of days for initial public offerings (IPOs). Yesterday, Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) and ProNAi Therapeutics Inc (NASDAQ:DNAI) joined the Nasdaq party, and today Wall Street was introduced to cybersecurity firm Rapid7 Inc (NASDAQ:RPD), boat maker MCBC Holdings Inc (NASDAQ:MCFT), and Internet-based telecom concern Ooma Inc (NYSE:OOMA). Let's check in on the babes. 

RPD priced its IPO at $16 per share, above the $13-to-$15 expected range, and skyrocketed out of the gate. The stock, which opened at $26.75, was last seen 55% higher at $24.78, and touched an intraday peak of $27.45 -- a 72% mark-up to its IPO price, valuing Rapid7 Inc at roughly $1 billion. The equity's surge is drawing comparisons to fellow cybersecurity name Cyberark Software Ltd (NASDAQ:CYBR), which has tripled since going public in September. 

MCFT priced its IPO at $15 per share, near the top end of its expected range. The stock opened at $15.50, and peaked at $16.14. MCBC Holdings Inc -- which will ring the Nasdaq closing bell today -- was last seen 5.3% higher at $15.79. 

Finally, OOMA is lagging its fellow freshmen. The stock priced its IPO at $13 per share, falling well short of the expected $16-to-$18 range. The equity opened at $12.10, and touched an intraday low of $10.75, valuing the firm at less than $200 million. At last check, OOMA was down 15% at $11.07.
 

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