The stock of affiliate marketing company BeFree (Nasdaq: BFRE) made a lot of noise on Monday as the quiet period surrounding its initial public offering ended. Shares of BeFree rocketed nearly 33.5 percent, climbing 11-5/8 to 46-3/8, after the stock received a strong buy rating from Dain Rauscher Wessels and buy ratings from Donaldson Lufkien & Jenrette and Hambrecht & Quist. Of course, all three of these firms were part of BeFree’s underwriting team.
BeFree has a lot of going for it, namely a top-notch list of customers. The company’s clients include eToys, priceline.com, Xoom.com, PlanetRx.com, CNET, barnesandnoble.com, Network Solutions, Travelocity.com, Compaq, Lycos, Mercata, GoTo.com, MP3.com, Ask Jeeves and dozens of others. BeFree announced Monday that it has added Stamps.com, Intuit and shockwave.com as customers.