5 Top Weekly NASDAQ Tech Stocks: Fastly and Luckin Jump on IPOs

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started the week at 7,720.07 points on Monday (May 13) and settled at 7,878.24 points as of 1:27 p.m. EDT on Friday (May 17).

A number of IPO announcements were made last week, including one from cybersecurity unicorn Crowdstrike, which filed to go public and has a projected US$100 million valuation.

Meanwhile, software startup Fastly (NYSE:FSLY) went public on Friday, with shares jumping after opening to reach a US$180 million valuation. Luckin Coffee (NASDAQ:LK), a technology-driven coffee retail company based in China, also went public on Friday, with shares rising 65 percent at one point during the day, bringing the company to a US$4 billion valuation.

Also on Friday, Spotify (NYSE:SPOT) announced that it has begun testing an in-car hardware system that acts as an assistant. Its goal is to gain greater insight on how its users listen to music and podcasts.

In addition, WhatsApp announced on Tuesday (May 14) that its encrypted messaging and voice call platform had been hacked, and urged users to update their software. The platform, which is owned by Facebook (NASDAQ:FB), has over 1.5 billion users worldwide.

In the small- and mid-cap spaces, the five top gainers for this week were as follows:

• Veritone (NASDAQ:VERI)
• My Size (NASDAQ:MYSZ)
• CSPi (NASDAQ:CSPI)
• Support Com (NASDAQ:SPRT)
• Borqs Technologies (NASDAQ:BRQS)

Veritone

Our frontrunner is artificial intelligence (AI) company Veritone. The company’s core operations are focused on a range of AI capabilities. AiWARE, its operating system, is designed to help with translation and facial recognition, and it can process audio and video while implementing 30 cognitive functions. The system is designed to help businesses solve problems at scale and with higher efficiency.

On Friday, Veritone announced that its Veritone Attribute application won the Product of the Year Award at the 2019 NAB Show in Las Vegas. Veritone Attribute provides broadcast advertisers with real-time analytics on radio advertisement campaigns.

Over the week, Veritone rose 22.04 percent, reaching US$8.36 as of 12:28 p.m. EDT on Friday.

My Size

Israel-based ecommerce company My Size is focused on online shopping solutions, including SizeUp, MySizeID and BoxSizeID. My Size offers a suite of mobile products to help users find the right fit while shopping online. My Size has a history spanning almost 20 years.

On Wednesday (May 15), My Size released a business update, reporting that it generated US$20,000 in revenue for the first quarter. Its net loss was reduced to US$1.2 million from over US$5 million during the same time period in 2018. Over the quarter, the company generated its first licensing revenues and launched its online store and its MySizeID product.

Shares of My Size climbed to US$0.14, a 20.04 percent hike, as of 12:27 p.m. EDT on Friday.

CSPi

Cybersecurity company CSPi offers a wide range of security products, including data protection, enhanced network security, cyber visibility and accelerating incident response services. With headquarters in Florida, CSPi has been in operation since 1968 and has served industries from healthcare to retail, among a host of others.

While there was no major news for CSPi last week, the company did recently receive a top workplace award for the second year in a row. The company also launched its ARIA SDS Packet Intelligence application in March. It provides complete network visibility capabilities.

CSPi shares increased by 13.49 percent last week, rising to US$14.24 as of 12:29 p.m. EDT on Friday.

Support Com

With headquarters in California, Support Com provides technical support across a range of services. Those include services that assist with cloud software, call centers, mobile support tools and self-service solutions. Support Com also provides outsourcing call center services and mobile app applications to small businesses.

Last week, Support Com released its first quarter financial results. The company reported US$18.1 million in revenue, a 9 percent increase year-over-year. Net income figures stood at US$1.4 million while US$48 million in cash was reported for the quarter.

Shares of Support Com climbed to US$2.42, a 12.08 percent hike, as of 12:31 p.m. EDT on Friday.

Borqs Technologies

Founded in 2007, Borqs Technologies develops mobile software for internet of things products. In 2016, Borqs was selected by Qualcomm (NASDAQ:QCOM) to provide software for its Android wearables, including smartwatches and fitness-centered watches. Borqs has research centers in India and China.

On Thursday (May 16), Borqs received over US$10 million in financing from the Chongqing City Youtong Equity Investment Fund, with 3,734,283 shares purchased for US$3.713 each.

Over the week, Borqs’ share prices rose 9.17 percent, reaching US$3.93 as of 12:34 p.m. EDT on Friday.

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

Data for the 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. Companies within the technology sector are considered.

Securities Disclosure: I, Dorothy Neufeld, 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: Uber Makes Trading Debut

By Dorothy Neufeld, May 12, 2019

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started the week at 7,981.85 points on Monday (May 6) and settled at 7,837.85 points as of 12:04 p.m. EDT on Friday (May 10).

On Friday, in the year’s most anticipated IPO, Uber Technologies (NYSE:UBER) made its debut. With an IPO listing price of US$45, shares opened at US$42, edging to US$43 as the day went on. The ride-hailing company raised US$8.1 billion, just under half of Facebook’s (NASDAQ:FB) US$17 billion IPO in 2012.

Meanwhile, Jeff Bezos, CEO of Amazon (NASDAQ:AMZN), said that he wants to build infrastructure to allow humans to live in space, unveiling a moon lander on Thursday (May 9). “This would be an incredible civilization,” Bezos said, according to the New York Times.

In the small- and mid-cap spaces, the five top gainers were as follows:

• Pintec Technology Holdings (NASDAQ:PT)
• Red Violet (NASDAQ:RDVT)
• Everquote (NASDAQ:EVER)
• Veritone (NASDAQ:VERI)
• Synchronoss Technologies (NASDAQ:SNCR)

Pintec Technology Holdings

Leading the way last week was Pintec Technology Holdings, a fintech company based in China. Pintec offers a suite of services, including personal loans, instalment loans, SME loans, and wealth management and insurance solutions, to a wide range of industries.

In addition, Pintech Technologies offers advanced lending technologies, data-based asset allocation and mutual fund services.

On Wednesday (May 8), Pintec opened an international office headquartered in Singapore. It plans to launch innovation labs and research and development centers to enhance its product and service offerings. Over the week, Pintec rose 37.96 percent, reaching US$8.06 as of 1:17 p.m. EDT on Friday.

Red Violet

Florida-based Red Violet saw over a 24 percent price gain last week. The data analytics company also owns blockchain company Red Violet Blockchain and Analytics, which is developing identity verification and Know Your Client compliance solutions for the industry.

On Tuesday (May 7), Red Violet released its first quarter financial results. Highlights include a 72 percent increase in revenue to US$5.7 million in addition to a 53 percent increase in adjusted gross margin.

“Our team continues to enhance the functionality and performance of our solutions and, as a result, we are winning head-to-head challenges against the competition and driving new use cases for our customers,” said CEO Derek Dubner in a press release.

Shares of Red Violet climbed to US$9.80, a 24.52 percent hike, as of 1:18 p.m. EDT on Friday.

Everquote

Not shy to our top tech NASDAQ stocks, Everquote has graced this list more than once over recent weeks. The fintech insurance company, which provides auto, home and life insurance products, saw its share price rise over 17 percent last week.

Headquartered in Massachusetts, Everquote has been in operation since 2011. The company was originally named AdHarmonics and launched its IPO just under a year ago in June 2018.

Everquote released its first quarter results on Monday, reporting 28 percent year-over-year revenue growth totaling US$52.2 million.

“We grew our insurance shopping consumer volume, expanded our insurance provider network, and continued to scale our newest verticals while increasing consumer-provider engagement with additional partial provider partner integrations,” said Everquote CEO Seth Birnaum in a press release. Its home and life insurance verticals showed an increase of 50 percent in year-over-year revenues while auto insurance experienced a 25 percent rise in revenue year-over-year.

Everquote shares increased by 17.13 percent last week, rising to US$10.18 as of 1:10 p.m. EDT on Friday.

Veritone

With headquarters in California, Veritone claims to have created the first operating system for artificial intelligence. Its core functionalities include language detection, face detection, translation, transcription and object detection. 

Last week, Veritone also reported its first quarter financial results. The company reported US$12.1 million in revenue, with a 117 percent increase in year-over-year SaaS revenue.

“As we continue to enhance and improve our aiWARE operating system with new features, capabilities and components, we are able to more rapidly develop and deliver applications to meet specific use cases,” said Veritone CEO and Chairman Chad Steelberg in a press release.

Shares of Veritone gained 16.23 percent, climbing to US$7.16 as of 1:20 p.m. EDT on Friday.

Synchronoss Technologies

Synchronoss Technologies saw its shares rise almost 15 percent over the week. The company provides artificial intelligence-driven platforms that help companies streamline digital experiences and generate revenue; it also provides a host of internet of things products to its customers.

On Thursday (May 9), the company released its financial results for the first quarter of 2019. “We delivered healthy revenue growth on both a sequential and year-over-year basis due to strength in our messaging business, as well as positive adjusted EBITDA for the third consecutive quarter,” said Synchronoss Technologies CEO and President Glenn Lurie in a press release. The company reported US$88.1 million in revenue for the quarter and a GAAP net loss of US$27.6 million.

Over the week, Synchronoss shares rose 14.73 percent to reach US$5.92 as of 1:22 p.m. EDT on Friday.

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

Data for the 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. Companies within the technology sector are considered.

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