Tableau IPO Up 64% in Debut

Wyatt Investment Research

Yesterday’s Tableau IPO was the latest sign of the appetite investors have for new stocks right now.

A provider of interactive data visualization software, Tableau popped 64% in its market debut yesterday despite pricing above its expected range at $31 a share. The stock, listed on the New York Stock Exchange under the ticker symbol “DATA”, is currently trading at $53.19 per share.

Tableau raised $254 million in its debut, and already boasts a market cap approaching $2 billion.

The Tableau IPO wasn’t the only new stock to flourish yesterday. Marketo (MKTO) , a marketing software company, actually outperformed Tableau, advancing 78% in its initial public offering. The company went public at $13. It’s already up to $24.57 a share. That’s the largest first-day pop since Splunk (SPLK) shot up 108% in its April 2012 IPO.

According to Renaissance Capital, Marketo and Tableau are the first pair of IPOs to produce first-day gains of more than 50% on the same day since 2010, and just the second since 2000. It speaks to the health of the IPO market right now.

Marketo and Tableau bring May’s IPO tally to 22. That’s the most of any month since November 2007 – and we’re only two-thirds of the way through the month. No fewer than nine more companies are currently in the IPO pipeline. If all of them price before May 31, it will mark the biggest month for IPOs since 2004.



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