The IPO Buzz: Tech’s Spring Awakening

Alteryx (AYX – proposed) is the only IPO on this week’s calendar, but that could prove to be a sign of things to come. This will be the third technology IPO in March – and for the year, for that matter. The burning question is: “Are there more tech IPOs in the future?”

Let’s take a look.

First to come to market was Snap (SNAP). Its IPO of 200 million shares was priced at $17 each; it raised $3.4 billion. Next was Presidio (PSDO). Its IPO of 16.7 million shares was priced at $14 each; it raised $233.8 million. On Friday, which coincidentally was St. Patrick’s Day, MuleSoft(MULE) made its debut. Its IPO of 13 million shares was priced at $17 each; it raised $221 million.

Spring Solo

This week begins with the spring equinox on Monday, March 20, and just one IPO in the wings. Alteryx expects to price its IPO of 9 million shares at $12 to $14 each. It is looking to raise $117 million.

Alteryx, based in Irvine, California, provides self-service data analytics software. The company’s software platform enables organizations to improve business outcomes and the productivity of their business analysts. Alteryx’s subscription-based platform lets its clients prepare, blend and analyze data from a multitude of sources and more quickly benefit from data-driven decisions. As of Dec. 31, 2016, the company reported it had over 2,300 customers in more than 50 countries. Among its customers were Ford, Kaiser Foundation Health Plan, Knight Transportation, Nike, Southwest Airlines, Tableau Software and Tesco.

Bankers plan to price the deal Thursday evening to trade Friday morning on the New York Stock Exchange.

The word out there: Alteryx’s meetings reportedly went well and there is interest in the deal. And technology could be starting to set a trend on the calendar.

Tech in the Window

The IPO filings last week turned up an interesting name or two. The U.S. Securities and Exchange Commission’s filing widow showed a couple of tech gifts:

  • Okta (OKTA – [proposed) filed for an IPO to raise $100 million. The company is an independent provider of identity management software for the enterprise. The Okta Identity Cloud enables its customers to securely connect people to technology anywhere, anytime and from any device.
  • Yext (YEXT – proposed) filed for an IPO to raise $100 million. The company offers a platform that enables businesses to manage their digital knowledge in the cloud and sync it to over 100 services, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.

This brings us to the week of March 27. Its IPO calendar has just one offering, but the traffic could change when the SEC’s filing window opens on Monday morning.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinion.