5 Top Weekly NASDAQ Tech Stocks: Mitek Systems Gains 22.38 Percent

Mitek Systems was last week's top gainer, followed by Limelight Networks, Rocket Fuel, Innodata, and Avid Technology.

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After a couple of weeks of losses, the NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) made slight gains last week, rising 0.35 percent to close the trading period at 3,336.77 points.

With that in mind,  in the 11 years since inception, the index is currently sitting at an all-time high, having gained 229.7 percent since March 3, 2006, according to data from Google Finance, with last week pushing the index to its highest level.  As such, a number of technology stocks benefited from the index’s solid week.

In particular, the 5 top weekly NASDAQ stocks on the 100 Technology Sector index were:

  • Mitek Systems (NASDAQ:MITK)
  • Limelight Networks (NASDAQ:LLNW)
  • Rocket Fuel (NASDAQ:FUEL)
  • Innodata (NASDAQ:INOD)
  • Avid Technology (NASDAQ:AVID)

Here’s a closer look at those companies.

Mitek Systems

Last week’s top gaining stock was Mitek System, a company in the business of developing, selling, and marketing mobile capture and identify verification software solutions with a focus on mobile banking. Mitek’s main products include Mobile Verify, Mobile File, Mobile Docs, Mobile Deposit and Commercial Mobile Deposit Capture.

On April 27, the company released its financial results for the second quarter of fiscal 2017, highlighting revenue totals of $11.4 million–a 34 percent increase year-on-year. As such, it’s no surprise Mitek Systems is the top gaining stock: over the five-day trading period, its shares increased 22.38 percent to $8.75.

Limelight Networks

Next is Limelight Networks, who helps companies with digital content delivery. In particular, the company focuses on content and mobile delivery services, video content management, performance services, and cloud-based storage services/cloud-based content security services.

During the trading week, the company released its financial results for Q1 2017, reporting revenue of $44.7 million, representing an 8 percent increase year-on-year. To that end, the announcement certainly impacted the company’s share price positively; over the five-day period, shares of Limelight increased 18.49 percent to $3.14.

Rocket Fuel

Founded in 2008, Rocket Fuel is in the digital advertising industry with a focus on big data and artificial intelligence. The company’s platforms include Data Management Platform and Demand Side Platform.

That said, the company did not have any related news during the trading week: Rocket Fuel’s most recent news came April 6, when it announced study findings where in certain situations, up to 70 percent of in-stream video ad inventory is misrepresented in-banner.

Still–its share price increase is worth noting: last week, Rocket Fuel’s stocks soared 14.32 percent to close the week at $5.03.

Innodata

Putting it simply, Innodata is a digital service and solutions company, providing content solutions and data analytics to publishers, information providers and enterprises. In particular, Innodata’s products include the Content Services, Innodata, Advanced Data Solutions, and Media Intelligence Solutions.

Much like Rocket Fuel, Innodata did not have any news during the trading period that would describe its share price increase. Last week, shares of Innodata climbed 10.53 percent to close the five-day period at $2.10.

Avid Technology

Rounding out the 5 top weekly NASDAQ stocks is Avid Technology, who provides open and integrated technology platforms. Namely, the company develops, markets, sells and supports software and hardware targeted for digital media content production.

On April 22, the company announced a cloud partnership with Microsoft (NASDAQ:MSFT), which no doubt positively impacted Avid’s share price: over the five-day period, the company’s shares increased 9.69 percent to close at $5.61 on Friday.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.


**This article is updated each week. Please scroll to the top for the most recent information.**

5 Top Weekly NASDAQ Tech Stocks: Index Bounces Back

By Jocelyn Aspa, April 23, 2017

After a couple of weeks of losses, the NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) was on fire last week, rising 1.98 percent to close the trading period at 3,277.67 points.

With that in mind, Reuters reported on Thursday (April 20) the index’s stock price has at least more than doubled over the last five years. As a result, a number of technology stocks have been reaping the benefits of the index’s modest gains.

In particular, last week’s 5 top tech performers on the NASDAQ 100 Technology Sector index were:

  • Netlist (NASDAQ:NLST)
  • Datawatch (NASDAQ:DWCH)
  • Sigma Designs (NASDAQ:SIGM)
  • Avid Technology (NASDAQ:AVID)
  • Evolving Systems (NASDAQ:EVOL)

Here’s a closer look at the 5 top weekly NASDAQ tech stocks.

Netlist

Since 200, Netlist has been in the business of designing, selling and manufacturing a wide range of memory subsystems for datacenter, storage and computing markets.

The company has vast portfolio of products, including the Non Volatile Memory, Embedded Flash, Speciality DIMMs, and Storage Class Memory.  On April 17, the company announced its team of board of directors had assumed a short term stockholder rights agreement. Pursuant to the agreement, its shareholders will receive a dividend by way of preferred stock purchase rights.

As a result of the news, it’s no surprise that Netlist is first on the list: last week, its shares spiked 33.36 percent to close the week at $1.32.

Datawatch

Datawatch isn’t new to the technology scene: in fact, the company has been around for over two decades with the introduction of its first line of products, the Datawatch Monarch. At the time, it was introduced to solve difficult data challenges, and unlock mainframe print spool data for analytic tasks.

Since then, Datawatch has overall evolved into a self-serving data preparation offering quick solutions.

On April 19, the company released its second quarter fiscal 2017 financial results, highlighting an 18 percent revenue increase, although a net loss for the quarter was reported at $450,000. Still–the company’s shares saw an increase last week, increasing b y 29.37 percent to close the week at $9.25.

Sigma Designs

Middle of the pack is Sigma Designs. Shares of the company have been publicly traded for over three decades–since 1986 to be exact–and provides system-on-chip (SoC) to enable smart home convergence by way of set top boxes, smart TVs, media connectivity and IoT devices.

On April 17, the company noted its shares saw a 7.59 percent increase, although there was no related news detailing why. By Friday, shares of Sigma Designs increased 11.61 percent to close at $6.25.

Avid Technology

Next Avid Technology, who develops, markets and sells computer software that enables the creation of audio and video content. In other words, the company’s products are used in a wide variety of entertainment services, which also includes production and post-production, film studios, and independent and cable TV stations.

On April 18, the company announced its CEO, Louis Hernandez, released a book called The Storyteller’s Dilemma: Overcoming the Challenge of the Digital Media Age, which might have contributed to its share price increase. Last week, shares of Avid Technology respectively increased 10.85 percent to finish at $5.11.

Evolving Systems

Closing out the top five is Evolving Systems, who has been developing, delivering and assisting technology and vendor independent software solutions since the mid-80s.

Shares of the company rose marginally by 9.3 percent last week to close at $5.15, although there was no related news that would explain its share price increase.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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