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 8,006.18 points on Monday (August 19) and had settled at 7,809.56 points as of 12:12 p.m. EDT on Friday (Aug 23).
On Tuesday (August 22), European Union antitrust regulators scrutinized Facebook’s (NASDAQ:FB) Libra cryptocurrency. Regulators have suggested it could lead to anti-competitive practices, undermining and quashing potential crypto rivals.
Also on Tuesday, Walmart (NYSE:WMT) sued Tesla (NASDAQ:TSLA) over fires in solar panels at its stores. Walmart claims that the panels, which were supplied by Tesla, were installed with negligence. The company has solar panels at 240 of its stores.
Looking back at the week, in the small- and mid-cap spaces, the five top gainers were as follows:
- Sphere 3D (NASDAQ:ANY)
- Comscore (NASDAQ:SCOR)
- Sharpspring (NASDAQ:SHSP)
- ServiceSource (NASDAQ:SREV)
- MTS (NASDAQ:MTSL)
Here’s a look at what moved their share prices last week.
Sphere 3D is a data infrastructure company that offers three core products: SNAPStorage, G-Series and V3. Its virtual storage platform, SNAPStorage, is a hybrid cloud storage system that provides access and data management for enterprises. G-Series offers access to Microsoft (NASDAQ:MSFT) products at greater speeds by offloading resource-intensive Windows apps to its own platform. V3 reduces computer performance time by offering a unified server system for enterprise.
While it had no major news announcements last week, shares of Sphere 3D had reached US$1.28, a 14.04 percent hike, as of 12:00 p.m. EDT on Friday.
Digital advertising company Comscore measures audiences and media performance. Through its ratings service, it helps companies gain greater insight on their audiences. It is focused on TV and cross-platform media, while assessing the bigger picture in audience sizes, engagement and demographics.
Its analytics segment assists media companies with campaigns and aims to drive returns on investment. Additionally, the company helps with improving brand performance by measuring and analyzing how companies perform across mobile, TV and social media platforms.
On Tuesday (August 20), Comscore announced it is partnering with PlaceIQ to develop Movie Lift, a broader consumer insight platform. The companies plan to use location and consumer behavior data, as well as data analytics, to gain a greater understanding of the impact of TV campaigns. Essentially, the partnership is designed to better measure what is driving consumers to purchase movie tickets.
Comscore’s shares rose 13.04 percent last week to reach US$1.81 as of 12:08 p.m. EDT on Friday.
Sharpspring is a digital advertising business. Focused on automated marketing, it is centered around email automation, analytics, branching logic and workflow automation. Its services extend through landing pages and social media, and are designed for three primary markets: enterprises, agencies and small to medium businesses.
On Tuesday, the company appointed veteran investor Scott Miller to its board of directors. Earlier in August, the company reported a record US$5.5 million in revenues for the quarter, up by 24 percent since Q2 2018. Meanwhile, its net loss reached US$4.2 million, a significant increase year-on-year, largely due to the settlement of US$2.2 million in convertible debt during the quarter.
Shares of Sharpspring climbed 11.25 percent last week to hit US$11.74 at 12:06 p.m. EDT on Friday.
Business-to-business digital advertising company ServiceSource originated over 20 years ago and has grown to serve customers in 170 countries in 45 languages. ServiceSource is focused on customer loyalty and revenue retention, while optimizing the efficiency of existing operations in several markets, including medical devices, internet of things and the cloud. ServiceSource’s clients include Cisco (NASDAQ:CSCO) and Symantec (NASDAQ:SYMC).
While the company had no news announcements for the week, its shares were up 9.88 percent to US$0.94 as of 11:57 a.m. EDT on Friday.
Telecom services company MTS has central products that include call accounting, call center services and telecom expense management. MTS offers services across a wide variety of industries. In the retail sector, for example, the company helps automate digital communications and assists staff in improving clients’ overall experience through cost reductions utilizing its real-time business insights.
MTS has reported no news in 2019 so far. Its most recent announcement was in October 2018, when it closed a US$1.5 million investment and made changes to its board.
Shares of MTS had reached US$0.99, a 6.45 percent increase, as of 11:50 a.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.