5 Top NASDAQ Tech Stocks: MeetMe Makes Gains to Lead

Mitek Systems, Autodesk, USA Technologies, and Rocket Fuel were also the week’s top gainers.

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The NASDAQ Technology Sector (INDEXNASDAQ:NDXT) had a good week and was up 4.13 percent and ended the week at 2,876.57 points by market close on Friday.

Some stability followed the volatility from the US elections where Donald Trump surprisingly clinched the coveted seat for US president. Indeed, since the win, tech stocks have hardly moved – until December 1, when they plunged. According to TechCrunch, Trump will not be a friend to the tech world.

Despite remaining uncertainty surrounding the Trump presidency, here are last week’s top NASDAQ tech stocks in the computer software and processing industry:

  • MeetMe (NASDAQ:MEET)
  • Mitek Systems (NASDAQ:MITK)
  • Autodesk (NASDAQ:ADSK)
  • USA Technologies (NASDAQ:USAT)
  • Rocket Fuel (NASDAQ:FUEL)

Here is a closer look at last week’s top gainers:

MeetMe

MeetMe is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The company is a location-based social network for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users. It operates by providing users with access to a menu of resources that promote social interaction, information sharing and other topics of interest. They recently reported a 14 percent year over year increase for mobile CPMs in the month of November.

Shares of MeetMe gained 22.93 percent over the five-day trading period, and ended the week at $5.63 per share.

Mitek Systems

Mitek Systems creates mobile capture and identity verification software solutions for enterprise customers. The company’s technology enables users to remotely deposit checks, pay bills, open accounts, get insurance quotes, and verify their identity through camera-enabled smartphones. Its mobile capture software solutions are embedded in mobile banking and enterprose applications developed by banks, insurance companies and other partners. They recently reported fiscal fourth quarter 2016 revenue increased 23 percent year over year to a record $9.7 million.

Shares of Mitek Systems gained 16.07 percent over the five-day trading period, and ended the week at $6.50 per share.

Autodesk

Autodesk is an American software company specializing in 3D design and engineering. They recently reported third quarter fiscal 2017 results with revenue of $490 million, down 18 percent from last year.

Shares of Autodesk gained 14.94 percent over the five-day trading period, and ended the week at $81.11 per share. Year-to-date the stock has gained 33.12 percent.

USA Technologies

USA Technologies provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale market. More specifically, the company is a provider in the small ticket, beverage and food vending industry, the amusement industry, commercial laundry, kiosk and other markets. They recently announced their first quarter fiscal 2017 results, with total quarterly revenue of $21.6 million, a year-over-year increase of 30 percent.

Shares of USA Technologies fell at the start of the month but came back to register a gain of 13.75 percent over the five-day trading period, and ended the week at $4.55 per share.

Rocket Fuel

Rocket Fuel are experts on marketing technology. They have recently shifted to mobile apps.

Shares of Rocket Fuel gained 13.14 percent over the five-day trading period, and ended the week at $1.98 per share.

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, Emma Harwood, hold no direct investment interest in any company mentioned in this article.

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