Nutanix, a provider of web-scale IT infrastructure to medium and large enterprises, began trading Friday on the NASDAQ after raising $238 million in its public offering. The company initially filed a price range of $11 to $13, but increased it to $13 to $15 in the middle of last week; shares ended up being priced at $16. Trading under the symbol NTNX, Nutanix saw its share price soar, opening at $26.50 and closing at $37, up 131% from the pricing.
So continues a trend of enterprise tech companies performing well in their public market debuts, following the likes of Twilio, Talend, The Trade Desk and Apptio. Now eyes turn to Coupa Software, a provider of cloud-based applications for finance that is set to take the jump this week.