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LAZE SOFTWARE INC. fired up its engines for its March 23 debut, got a boost, and then settied down to cruising speed.
Priced at $16 per share, San Jose, Calif-based Blaze opened at $34.25 and closed its first day at $27.75. It has been on cruise control ever since.
The initial public offering (IPO) of 4 million shares, led by Robertson-Stephens, raised $64million. Blaze provides software and consulting and professional services that help customers plan, develop, and implement custom e-business solutions.
Other recent IPOs got a jumpstart when analysts upgraded their stock ratings. Shares of Lante Corp. rose 2 percent Thursday after Deutsch Banc Alex Brown upgraded the stock to a strong buy and set a $90 price target.
"Investors are beginning to delineate along three dimensions: organic growth,...