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Two Tech CEOs Explain Why Their Stocks Surged Nearly 50% on IPO Day

Video Credit: The Street - Duration: 01:44s - Published < > Embed
Two Tech CEOs Explain Why Their Stocks Surged Nearly 50% on IPO Day

Two Tech CEOs Explain Why Their Stocks Surged Nearly 50% on IPO Day

As two new IPOs hit the NYSE on Thursday, the market showed its appetite for exciting tech names hasn't slowed.

Shares of both Israeli cybersecurity company Tufin and California-based cloud computing company PagerDuty surged double digits during the day's trading.

The parallel between the two stock trajectories?

Massive addressable markets and high profile partners.

Tufin Cybersecurity has been a constant headline risk for stocks in recent years, whether it be a social media, gaming networks, or consumer reporting agencies.

Though that bad press is actually an opportunity for players looking to protect these companies.

"We believe [cybersecurity] is a huge market opportunity that is over $10 billion," CEO Ruvi Kitov told TheStreet.

"There are a lot of challenges that large organizations face and that's our target customer." The newly listed company also gets the benefit of integrating itself alongside bigger tech players as more companies integrate technology into their businesses.

"There are dozens of layers of security that you need to have.

It's not enough to have just a firewall or an antivirus anymore," Kitov explained.

As such, he noted that his platform integrates with firewall vendors like Checkpoint , Palo Alto Networks , and Fortinet as well as cloud platforms like VMWare and Amazon to address customer needs.

Kitov said working alongside these names allows his company to deliver value to the customer and shareholder.

PagerDuty If you hear the word pager, one might think of 90's era technology that is now largely relegated to hospitals.

However, PagerDuty might be shifting that narrative by integrating cloud computing and machine learning in its software aimed at making company's more responsive to company issues and customers.

"We think it's an enormous market and it's a very early market," CEO Jenifer Tejada explained.

"We've sized it at about $25 billion and we think there are about 85 million users out there that need the power of our platform." Like Tufin, she noted that almost every company is becoming a tech company, opening more opportunity ahead.

"Frankly, digital transformation is a CIO priority," Tejada concluded.

Like Tufin, the company is able to leverage established partners Netflix and IBM .

Tejada explained that the untapped opportunity available and buy in from big partners signals the growth for shares still ahead.

Bottom Line Despite Lyft's lagging post-IPO performance, the demand for "unicorn" names isn't slowing even for comapny's reporting a net loss.

That bodes well for names still to list if they can get in while the getting is still good.

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