5 Top Weekly NASDAQ Tech Stocks: Index on Pace for Best Week in 6 Years

- February 18th, 2018

eGain, Synchronoss Technologies, Park City Group, Meet Group and Avid Technology were last week’s top gainers.

The NASDAQ Composite (INDEXNASDAQ:.IXIC) was in the green again last week, rising substantially by 5.9 percent to reach 7,283.80 points as of 1:8 p.m. EST on Friday (February 16). The NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT) was also back on the rise last week, increasing by 7.08 percent to sit at 4,163.15 points as of 1:10 p.m. EST on Friday.

On Friday, The New York Times reported that both the S&P and NASDAQ are on pace for their best week since December 2011–which is good news for tech stocks.

“The market seems to be slowly rebuilding the position,”  Rick Meckler, president of investment firm LibertyView Capital Management told the publication. “That said, interest rates are climbing and there is a real competition for stocks.”

On that note, last week’s top gaining NASDAQ tech stocks include:

  • eGain (NASDAQ:EGAN)
  • Synchronoss Technologies (NASDAQ:SNCR)
  • Park City Group (NASDAQ:PCYG)
  • Meet Group (NASDAQ:MEET)
  • Avid Technology (NASDAQ:AVID)

Here’s a closer look at those companies.

eGain

eGain is no stranger to this list–in fact, the company holds its top position from last week. The company provides cloud-based and on-site customer engagement software solutions. In particular, eGain’s goal is to optimize service processes around the web, social and phone channels.

The company announced on Tuesday (February 13) that it had expanded its European operations with the option to host data in its UK-based cloud. As such, it’s no surprise eGain’s share price was on the rise last week. Over the five-day period shares of the company increased 32.14 percent to reach $7.40 as of 1:43 p.m. EST on Friday.

Synchronoss Technologies

Synchronoss Technologies is a new addition to the list. The company helps its clients create revenue, reduce costs and deliver cloud, messaging and digital products.

On Thursday (February 15), Synchronoss Technologies announced the closing of a convertible preferred stock investment. The sale totaled $185 million of preferred stock to its affiliates of Siris Capital Group, who will receive 185,000 shares of Series A Convertible Participating Perpetual Preferred Stock of Synchronoss in exchange for $97.7 million and 5.99 million shares of common stock. This news, no doubt, is a contributing factor to Synchronoss’ rising share price, which increased 28.08 percent over the five day period to reach $8.93 as of 1:55 p.m. EST on Friday.

Park City Group

Middle of the pack on our 5 top weekly NASDAQ tech stocks list is Park City Group, a company that provides software-as-a-service. More specifically, the company’s services include: implementation, business optimization, outsourcing, technical services, education, application hosting, and support.  Park City Group’s solutions are provided to retailers, suppliers and brokers. Its clients can license the software or use as a complete business-process outsourced solution.

Park City Group announced on Thursday that its subsidiary Reposi Tank had entered into a partnership with Recall Info Link to provide safety and risk management technology needs to the food supply chain. As a result it’s no surprise that Park City Group’s share price was on the rise last week: over the five-day trading period shares of Park City Group increased 15.17 percent to reach $11:55 as of 2:10 p.m. EST on Friday.

Meet Group

Next is Meet Group, a company that provides a social networking platform on mobile devices such as iPhone or Android, iPad, or other devices. Meet Group provides its users with a variety of ways to connect with other people through live video or discussions. Its social networking brands include: meet me, Lovoo, SKout, Tagged and hi5.

That said, Meet Group did not have any related news during last week’s trading period that might have contributed to its rising share price. Still, over the five-day trading period shares of Meet Group increased  8.03 percent to reach $2.68 as of 2:28 p.m. EST on Friday.

Avid Technology

Rounding out last week’s 5 top weekly NASDAQ tech stocks list is Avid Technology, a company that markets, develops, and supports both software and hardware for digital media content production, management, secured content storage and distribution.

On Friday, the company announced that Estonia’s national public broadcaster ERR chose Avid Technology to modernize its news workflow, based on Avid Media Central, which may have helped bolster its share price over the week. Throughout the five-day period shares of Avid Technology increased 3 percent to reach $4.80 as of 2:41 p.m. EST 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**

4 Top Weekly NASDAQ Tech Stocks: Potential Increase in Rates Sends Stocks into a Correction

By Jocelyn Aspa, February 9, 2018

The NASDAQ Composite (INDEXNASDAQ:.IXIC) took a major hit last week, sliding by a staggering 7.69 percent to 6,683.93 as of 12:38 p.m. EST on Friday (February 9). The story is similar for the NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT), which dropped off by 7.87 percent to sit at 3,767.88 points as of 12:40 p.m. EST on Friday.

On Friday, Bloomberg reported that, overall, stocks have moved into a correction on the heels of potential increase in rates, including those in the tech industry.

Still, a number of NASDAQ tech stocks were in the green last week, including:

  • eGain (NASDAQ:EGAN)
  • USA Technologies (NASDAQ:USAT)
  • Sigma Designs (NASDAQ:SIGM)
  • Evolving Systems (NASDAQ:EVOL)

While the list for last week is somewhat shorter  compared to most of our lists, the below companies still made enough gains to make the list. Here’s a closer look at those companies.

eGain

First on our 5 top weekly NASDAQ tech stocks list is eGain, a company that provides cloud-based and on-site customer engagement software solutions.

On Thursday (February 8), eGain reported its financial results for fiscal Q2 of 2018, highlighting a 24 percent in revenue compared to the same quarter from 2017. As such, it’s no surprise eGain is the front runner this week, with its share price rising by 8.74 percent to reach $5:60 as of 1:30 p.m. EST on Friday.

USA Technologies

Next is USA Technologies, a company that is no stranger to this list. Among its services, the company is a provider in the small ticket, food and beverage vending industry, as well as providing solutions to other markets such as amusement and commercial laundry.

USA Technologies also posted its fiscal Q2 2018 financial results on Thursday, noting of $32.5 million for the quarter, which is roughly a 50 percent increase compared to the same quarter from the previous year. The news no doubt helped bolster USA Technologies’ share price, which increased 4.65 percent to reach $8:50 as of 1:41 p.m. EST on Friday.

Sigma Designs

Here we have Sigma Designs, a company that provides global integrated semiconductor solutions. The company’s products are sold to markets such as smart television, media connectivity, set-top box and internet of things (Iot) devices.

On Wednesday (February 7), the company announced that it had entered into a definitive agreement with Integrated Silicon Solution to sell to ISSI its Wired Connectivity Business Unit, which likely helped push its share price up over the week. Over the five-day trading period, shares of Sigma Designs rose 4.05 percent to reach $5.75 as of 1:48 p.m. EST on Friday.

Evolving Systems

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

That said, however, Evolving Systems didn’t have any news during last week’s trading period. Still, over the five-day week shares of Evolving Systems increased 1.85 percent to reach $5:50 as of 1:46 p.m. EST 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.

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