5 Top Weekly NASDAQ Tech Stocks: SeaChange Climbs 27 Percent

Last week, the NASDAQ Composite Index (INDEXNASDAQ:IXIC) opened at 7,906.44 points on Tuesday (September 3) and increased to 8,120.10 points as of 12:14 p.m. EDT on Friday (September 6).

On Wednesday (September 4), executives from Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB) met with US government officials to discuss the security implications of the upcoming US presidential 2020 election. Included in the discussion was how companies will thwart attacks from the dissemination of fake news, which occurred in the 2016 presidential race.

With the elections coming up next November, tech corporations discussed how they would coordinate and monitor attacks with the FBI, Department of Homeland Security and the National Intelligence service.

As the year presents a flurry of initial public offerings (IPOs), it was discovered that WeWork is anticipated to sell its shares at a 50 percent discount ahead of its upcoming IPO. The IPO is anticipated to be valued as low as US$20 billion. Following the release of its less-than stellar prospectus in August, several investors voiced hesitation.

On Tuesday (September 3), the company also added its first woman to the board after skepticism from investors following the filing.

As earnings season continues into the week, cybersecurity firm Palo Alto Networks (NASDAQ:PANW) reported a 22 percent uptick in its fourth quarter revenues, rising to US$805.8 million compared to US$658.5 million during the same time period last year. Shares of Palo Alto rose over 7 percent after the announcement.

Meanwhile, China-based fintech firm Qutoutiao (NASDAQ:QTT) reported a 187 percent increase in net revenues year-over-year with a non-GAAP net loss of US$81.8 million.

Looking back at the week, in the small- and mid-cap spaces, the five top gainers were as follows:

• SeaChange International (NASDAQ:SEAC)
• Comscore (NASDAQ:SCOR)
• Phunware (NASDAQ:PHUN)
• Powerbridge Technologies (NASDAQ:PBTS)
• SITO Mobile (NASDAQ:SITO)

SeaChange International

With a history spanning 25 years, SeaChange focuses primarily on driving revenue for video service providers. With clients from some of the leading news and media companies in the world, SeaChange provides services in analytics, targeted advertising and mobile management, to name a few.

While the company had no news last week, shares of SeaChange International reached US$2.97, a 27.56 percent increase, as of 12:30 p.m. EDT on Friday.

Comscore

Comscore is another media analytics platform. It focuses on measuring multi-platform media performance and engagement. Its client base is typically agencies, television networks and film studios that utilize its media insights as the television industry matures.

Comscore has witnessed over 32 percent in share declines since it released its second quarter financial results last month. Revenues during the second quarter slumped to US$96.9 million, declining by 4.4 percent year-over-year. The company has made efforts to improve its balance sheet, as it cut operational costs and improved its cash flow position to US$53.8 million.

With no news this week, shares of Comscore rose 22.01 percent last week to US$2.26 as of 12:31 p.m. EDT on Friday.

Phunware

Phunware is a mobile platform company employing cloud-based software. It helps clients monetize mobile audiences through app development and user analysis. Together, these services are designed to increase customer engagement. In addition, Phunware partners with mobile tracking companies such as AppsFlyer and TUNE to gain greater insights on its customer base.

Over the week, Phunware partnered with Midway and MKT Consulting to launch its multiscreen-as-a-service platform for Buffalo Heights, a residential and commercial development in Houston, Texas. “With over 32 acres of residential, office, and retail space, Buffalo Heights needed a unique mobile solution to address the needs of multiple stakeholders,” said Alan S. Knitowski, CEO and co-founder of Phunware, in a press release. Buffalo Heights is slated to develop over 230 residential units in addition to 37,000 square feet of commercial office space.

Phunware’s shares were on the rise by 18.34 percent last week to US$1.78 as of 12:30 p.m. EDT on Friday.

Powerbridge Technologies

With headquarters in China, Powerbridge Technologies is principally engaged in providing global trade software services for 1,600 clients. Founded in 1997, Powerbridge offers solutions cross-border processing, trade zone compliance and customs clearance, among others.

While Powerbridge had no new announcements during the week, shares of the company climbed to US$4.04, a 17.65 percent increase, as of 12:25 p.m. EDT on Friday.

SITO Mobile

Closing off the list is SITO Mobile, which is headquartered in Jersey City. Where it distinguishes itself is that its location data services are vertically integrated into its operations. Through applying research and insights, SITO Mobile gains a greater understanding of consumer behaviour while tracking 98 percent of mobile devices in a given area.

On Thursday, SITO Mobile reported a 65 percent jump in revenue during the second quarter with figures reaching US$13.9 million. New market entries accounted for over half of quarterly revenues as the company focused on aggressive growth in new areas. While revenues surged, gross profit margins shrunk from 48 percent in the second quarter of 2018 to 32 percent in 2019 as the company introduced reduced pricing to drive greater market share.

SITO Mobile’s shares reached US$0.90, a 12.5 percent hike, as of 12:31 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 US$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.