This past year was not really a great one for initial public offerings. After all, the Facebook Inc. (NASDAQ: FB) debacle of an IPO took about $40 billion of market value out of the market in the weeks after the poor IPO. But that was then. Now Facebook shares have handily recovered, and it turns out that 2012 has brought on many great initial public offerings. We actually have seven IPOs that are up more than 100% from their pricing.
Vipshop Holdings Ltd. (NYSE: VIPS) is an online discount retailer for various brands in China. It came public in March at $6.50, and its post-IPO trading range is $4.12 to $18.00. At $17.90 this one is up about 175%, and its market cap is about $905 million. We would note that the consensus price target is only $13.90 on this one.
Proto Labs Inc. (NYSE: PRLB) makes prototypes of items for companies and individuals seeking to get a model product made. This streamlines a very complicated process for inventors, small companies and more, compared with what was always a difficult barrier to entry before. This one came public in February at $16.00, and its post-IPO range has been $24.93 to $41.10. At $37.40 this one is up more than 130%, and its market cap is $912 million. Analysts have a price target objective of just over $40.
Guidewire Software Inc. (NYSE: GWRE) provides system software for the property and casualty insurance market. It came public in January at $13.00, and its post-IPO range is $16.45 to $38.13. With shares at $30.01, it is up 130% so far and has a market cap of about $1.66 billion. Analysts have a price target of $35.50 here.
Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) aims to treat chronic liver diseases, but its focus is on the development stage. Its IPO came in October at $15.00 per share, and its trading range has been $17.96 to $35.99. At $33.93, its shares are up 126%, and its market cap is $560 million.
Nationstar Mortgage Holdings Inc. (NYSE: NSM) may have the old ticker for National Semiconductor, but this is a servicer of residential mortgage loans. It came public in March at $14.00 per share, and it has a post-IPO trading range of $13.00 to $37.20. Its shares are at $30.94, and the market cap is now $2.76 billion. Note that analysts have a consensus price target of only $23.14 here.
There have been many other great winners in 2012. This was just the top five. Stay tuned for the worst IPO list of 2012 as well.
JON C. OGG