5 Top Weekly NASDAQ Tech Stocks: Index Makes Slight Gains

USA Technologies, Avid Technology, Evolving Systems, Internap, and JMU were last week's top gainers.

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The NASDAQ Composite (INDEXNASDAQ:.IXIC) was on the plus last week, rising slightly by 0.64 percent to 6,795.04 points as of 1:51 p.m. EST on Friday (November 17). The story is similar for the NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT), which rose slightly more by 1.59 percent to climb above 4,000 points to reach 4,041.21 as of 1:53 p.m. EST Friday.

That said, on Friday tech stocks were “retreating,” with some of the industry’s giants, like Apple (NASDAQ:AAPL), which dropped 0.5 percent as of 2:31 p.m. EST on Friday.

Still, a number of microcap tech stocks made gains last week, including:

  • USA Technologies (NASDAQ:USAT)
  • Avid Technology (NASDAQ:AVID)
  • Evolving Systems (NASDAQ:EVOL)
  • Internap (NASDAQ:INAP)
  • JMU (NASDAQ:JMU)

Here’s a closer look at those companies.

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USA Technologies

First on our 5 top weekly NASDAQ tech stocks list is  USA Technologies. 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.

That said, USA Technologies did not have any related news during the trading week that would describe its share price increase–still, its movement is worth noting, having risen 18.44 percent to reach $8.35 as of 2:49 p.m. EST on Friday.

Avid Technology

Next is Avid Technology, a company that develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

More specifically, Avid’s products are used in a variety of entertainment-related industries, such as: film studios, networks, affiliates, independent and cable television stations, recording studios, and so on.

On Wednesday (November 15), the company announced a new video-over-IP interface, called Avid Artist, which is the latest addition to its i/o hardware interfaces. As such, it’s no surprise Avid’s share price was on the rise last week, having gained 16.27 percent to reach $5.93 as of 2:49 p.m. EST Friday.

Evolving Systems

Middle of the pack on last week’s 5 top weekly NASDAQ tech stocks list is Evolving Systems, a company that has been providing a wide range of software solutions for over 30 years. In particular, its portfolio of solutions range from: Real-time Lifecycle Marketing, Dynamic SIM Allocation, Tertio Service Activation, and Total Number Management.

On Monday (November 13), the company announced its financial results for Q3, which ended September 30. According to the release, Evolving Systems’ revenue totaled $7.5 million, a 24 percent increase year-on-year. To that end, the news no doubt helped bolster the company’s share price, which rose 12.2 percent to reach $4.60 as of 1:57 p.m EST Friday.

Internap

Internap is a company that provides of Internet infrastructure. More specifically, the Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

On Friday, Internap announced an expansion of its CloudConnection, which likely contributed to its rising share price. Over the five-day period, Internap’s stock rose 11.57 percent to $4.05 as of 3:03 p.m. EST Friday.

JMU

Closing out last week’s 5 top weekly NASDAQ tech stocks list is JMU, a company that operates China’s biggest online foodservice platform that provides business-to-business services to foodservice providers and consumers. According to the company website, JMU hopes to “cultivate traditional offline foodservice businesses using internet tools to create value for foodservice companies, brand suppliers and customers.”

Over the five-day trading period, shares of JMU increased 9.28 percent to $1.19 as of 2:57 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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The NASDAQ Composite (INDEXNASDAQ:.IXIC) was on the decline last week, dipping slightly by 0.2 percent to 6,751.94 points as of 2:13 p.m. EST on Friday (November 10). The story is similar for the NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT), which declined roughly 0.09 percent to 3,977.66 points as of 2:16 p.m. EST Friday.

On Thursday (November 9), Reuters reported that tech stocks were pulling “Wall St. lower amid tax bill worries.”

With concerns rising over possible delays in the U.S tax reforms, equity bears could make an unwelcome appearance, consequently exposing global stocks to downside risks,” Lukman Otunuga, research analyst at FXTM was quoted saying.

That said, a number of microcap tech stocks made gains last week, including:

  • magicJack VocalTec (NASDAQ:CALL)
  • Cyren (NASDAQ:CYRN)
  • Mattersight (NASDAQ:MATR)
  • Mitek Systems (NASDAQ:MITK)
  • Bsquare (NASDAQ:BSQR)

Here’s a closer look at those companies.

magicJack VocalTec

First on our top weekly NASDAQ tech stocks list is magicJack VocalTec. The company is a cloud communications company. It invented voice over IP, and has sold over 10 million magicJacks since its launch.

In addition to that, its other products and services include voice applications on smartphones and the magicJack PLUS, magicJack GO and magicJack EXPRESS.

On Thursday, the company released its third quarter 2017 financial results, highlighting total net revenue for the quarter totaled $21.7 million. As a result, it’s no surprise shares of the company were on the rise last week: over the five-day trading period, shares of magicJack increased 36.89 percent to $8.32 as of 2:38 p.m. EST on Friday.

Cyren

Next is Cyren, a company that develops and markets information security solutions to protect the web, email and mobile transactions. Its range of enterprise security software-as-a-service products includes web security gateway, DNS security, email security gateway, email archiving, and cloud sandboxing.

On Monday (November 6), Cyren announced that Warburg Pincus had acquired 10.6 million shares from Cyren for $1.85 per share, totaling $19.6 million, which no doubt helped bolster Cyren’s share price. As of 2:20 p.m. EST on Friday, shares of Cyren had risen 34.29 percent over the week to $2.35.

Mattersight

Middle of the pack is Mattersight, a company that provides behavioral analytics and personalty-based software products . Its insights can be provided in real-time connections between customers and agents.  In particular, the company’s Software-as-a-Service products have been used in organizations that span from the financial services, healthcare, technology and telco.

On Wednesday (November 7), Mattersight released its Q3 results, noting that its total revenue for the quarter was $11.3 million. That said, the news likely could have contributed to its rising share price: over the 5 day period, Mattersight’s shares rose 16 percent to $2.90 as of 2.39 p.m. EST on Friday.

Mitek Systems

Next we have Mitek Systems, a company that develops, markets and sells mobile capture and identity verifications software solutions. What’s more, the company’s products allow customers to remotely deposit checks, open accounts, obtain insurance quotes, pay bills and even verify their identity by taking photos of documents with their smartphones and tablets rather than using a keyboard.

Mitek also released its financial results for the quarter ended September 30 this week. On Tuesday, Mitek reported a 31 percent annual revenue growth, highlighting a 33 percent revenue increase year-on-year for the fourth quarter.  Over the five-day period, shares of Mitek increased 5.87 percent to $9.00 as of 2:58 p.m. EST on Friday.

Bsquare

Closing out the 5 top weekly NASDAQ tech stocks list is Bsquare, a provider of software solutions. Bsquare’s flagship product, DataV, is an internet-of-things (IoT) software service that monitors device data, automate processes, and predicts events, to name a few.

Much like the companies above, Bsquare also reported its financial results for the quarter ended September 30. On Wednesday, Bsquare highlighted that its revenue was $19.7 million, a 13 percent decrease compared to Q3 in 2016, although it increased 4 percent compared to Q2 2017. That said, Bsquare’s share price was still on the incline last week, gaining 4.02 percent to $5.18 as of 2:52 p.m. EST 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.

Tech Forecast and Promising Tech Stocks To Buy in 2017

Learn about breakthrough technology about to impact lives around the globe. We cover the entire industry in our FREE investor’s report.   Gain Access

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Tech Forecast and Promising Tech Stocks To Buy in 2017

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