Which NASDAQ tech stocks gained the most last week? We run through the five biggest gainers in this article.
The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started last week at 7,097.49 points and had settled at 7,887.42 points as of 11:34 a.m. EDT on Friday (August 16).
Cybersecurity company Cisco (NASDAQ:CSCO) released its latest quarterly earnings report, with its earnings per share climbing 19 percent year-over-year to reach US$0.83. Revenue climbed by 6 percent over the same time period, with software subscriptions helping it reach US$13.4 billion for the period.
Another big company that shared major news last week was high-performance computing company NVIDIA (NASDAQ:NVDA), which posted several major news items.
Breaking record times, NVIDIA’s language model BERT can infer a body of text as quickly as 2 milliseconds, outpacing similar competitors’ speed five-fold. NVIDIA previously partnered with Microsoft (NASDAQ:MSFT) to allow its AI to be used with Microsoft’s Azure search engine software.
Looking back at the week, in the small- and mid-cap spaces, the five top gainers were as follows:
- Marin Software (NASDAQ:MRIN)
- Sito Mobile (NASDAQ:SITO)
- Integrated Media Technology (NASDAQ:IMTE)
- Perion Network (NASDAQ:PERI)
- USA Technologies (NASDAQ:USAT)
Here’s a look at the factors that moved their share prices last week.
Online advertising company Marin Software provides search advertising solutions at scale. Marin uses third party information to help companies increase investment returns across channels. The company has clients that include Square (NYSE:SQ), Facebook (NASDAQ:FB) and Nissan (OTC Pink:NSANY).
Marin had no major announcements last week; however, the previous week saw the release of Marin’s Q2 financial results. “Marin strengthened its balance sheet during the second quarter and continued to expand support for emerging channels such as Amazon (NASDAQ:AMZN), LinkedIn, and Apple (NASDAQ:AAPL) Search Ads,” said Marin Software CEO Chris Lien in a press release.
Marin’s shares climbed by 22.16 percent last week to US$2.41 as of 11:31 a.m. EDT on Friday.
Location data company Sito Mobile develops hyper-targeted campaigns for its clients, leveraging its ability to target 98 percent of US and Canadian mobile users. Through tracking walk ins per store and applying ad attribution analytics after a given ad is seen by an individual, Sito Mobile helps companies achieve higher sales.
Last week, Sito Mobile appointed Gregg Saunders as its CFO. Saunders has a lengthy history in media and private equity.
Sito Mobile’s shares had reached US$0.76, a 17.69 percent hike, as of 11:36 a.m. EDT on Friday.
Integrated Media Technology
Integrated Media Technology (IMT) is a company that provides online advertising and data storage solutions. Health company Beachbody, for example, has worked with IMT to reach an audience of 23 million viewers with its health and fitness online video presence. SharkNinja, another major client of IMT, has utilized its online advertising services to improve its user interface and product suite.
Although the company had no notable news last week, its shares rose 11.52 percent to reach US$7.80 as of 10:04 a.m. EDT on Friday.
Perion Network is an online advertising company with 20 locations internationally and over 400 employees. Perion provides four core services: CodeFuel, Undertone, MakeMeReach and SmileBox. CodeFuel, its search division, helps generate revenue through optimizing search traffic and native ads. Through its monetization methods, CodeFuel leverages its longstanding relationship with Microsoft Bing to provide competitive search options.
Despite not reporting any news last week, Perion’s shares climbed 11.46 percent to reach US$5.70 as of 11:52 a.m. EDT on Friday.
Capping off the week is USA Technologies. The payments technology company offers cashless payment solutions and customer engagement solutions. The company has been in operation over 15 years; it partnered with MasterCard (NYSE:MA) as early as 2006 for its contactless payment services. USA Technologies’ point of sales solutions are primarily driven through its ePort Connect service.
While the company had no news for the week, on Thursday (August 7) the company was heralded as one of the top 10 kiosk solutions providers, according to the magazine Retail CIO Outlook.
Shares of USA Technologies had reached US$7.71, an 8.31 percent hike, as of 12:00 p.m. EDT on Friday.
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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.