Benefitfocus (BNFT), 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 $24.50. Benefitfocus has also earned the title of best first-day gain for a technology company in 2013, and joins three other enterprise software IPOs [Marketo (MKTO), Tableau Software (DATA), and Cvent (CVT)] on 2013's list of top ten first-day performances.
|Top 10 First-Day Returns in 2013|
|Company||Ticker||Industry||Deal Size ($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%|
|Agios Pharmaceuticals||AGIO||Health Care||$106||73.8%||50.7%|
|OncoMed Pharmaceuticals||OMED||Health Care||$82||59.9%||-1.6%|
|bluebird bio||BLUE||Health Care||$101||58.3%||59.1%|