5 Top Weekly NASDAQ Tech Stocks: SharpSpring Takes the Lead

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started last week at 7,823.33 points on Monday (August 5) and had settled at 7,989.88 points as of 1:42 p.m. EDT on Friday (August 9).

As two mass shootings shook America last weekend, US President Donald Trump and other US politicians assigned blame to violent video games. As a result, gaming stocks, including major companies Activision Blizzard (NASDAQ:ATVI), EA (NASDAQ:EA) and Take-Two Interactive (NASDAQ:TTWO), witnessed share price volatility during the week.

On Tuesday (August 6), messaging app company Snap (NYSE:SNAP) announced that it is raising US$1 billion in senior corporate notes in a private placement. Notes are scheduled to mature on April 1, 2026.

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

• SharpSpring (NASDAQ:SHSP)
• Perion Network (NASDAQ:PERI)
• Ideanomics (NASDAQ:IDEX)
• Digital Turbine (NASDAQ:APPS)
• Aware (NASDAQ:AWRE)

SharpSpring

Marketing automation company SharpSpring’s services are organized in three tiers: those for agencies, enterprises and small- to medium-sized businesses. SharpSpring provides clients in over 50 countries with services that include CRM, analytics, landing pages and behavior-based emails.

SharpSpring released its second quarter financial results on Tuesday, reporting the addition of 290 new clients. Currently, the company serves 8,000 businesses and 1,854 agencies. SharpSpring also reported record revenues of US$5.5 million, an increase of 25 percent since the second quarter of 2018. The company finished off with a net loss of US$16 million in cash and US$1.7 million in adjusted earnings before interest, taxes, depreciation and amortization.

Shares of SharpSpring increased 17.59 percent to hit US$10.57 as of 11:47 a.m. EDT on Friday.

Perion Network

Perion Network is an online advertising company encompassing four main services: Undertone, MakeMeReach, SmileBox and CodeFuel. Through harnessing data, Perion aims to optimize client exposure and engagement in various verticals. Delivering strategic ads is core to its Undertone services, with a recent example being a partnership with Target (NYSE:TGT) and the Avengers.

Last Wednesday (August 7), Perion reported its second quarter earnings, with increases in net income, total revenue and cash figures. Undertone helped increase its revenue and boost gross margins by 8 percent for the quarter.

“During the first six months of 2019, we generated US$22.4 million in cash from operations, a 28 percent year over-year increase from the first half of 2018. As a result, Perion’s net cash was US$21.3 million as of June 30, the highest level in three and a half years,” said Perion’s CEO Doron Gerstel in a press release.

Over the week, Perion Network rose 14.96 percent to reach US$4.99 as of 11:51 a.m. EDT on Friday.

Ideonomics

Ideonomics distributes and mines a portfolio of diverse digital assets. For example, its financial digital assets segment involves securitizing existing financial assets into security tokens. As part of this process, Ideanomics is creating financial instruments in combination with artificial intelligence and data analytics. Other segments include energy digital assets, consumer digital assets and vertical industry digital assets.

Ideanomics shares reached were up 12.92 percent last week to US$5.67 as of 11:38 a.m. EDT on Friday.

Digital Turbine

Digital Turbine is a mobile app platform company that assists companies in targeted mobile advertising, brand building and increasing revenue. The company, based in Austin, Texas, serves clients in over 190 countries with over 160 million devices.

Last Monday, Digital Turbine announced a 38 percent increase in revenue for its Q1 2020 report, with figures reaching US$30.6 million. Driven by revenue-per-device increases and new partners, the company grew its gross profit by 78 percent for the quarter. Digital Turbine also revealed that it continues to grow its international presence.

“We are continuing to aggressively recruit additional carriers and OEMs to further expand our scale and global footprint,” said Digital Turbine CEO Bill Stone in a press release.

Digital Turbine’s shares rose 9.55 percent last week to reach US$6.18 as of 11:55 a.m. EDT on Friday.

Aware

Biometrics software company Aware develops face, voice and keystroke biometric solutions as part of its security solutions. Aware offers biometrics-as-a-service. This service, called Indigo, is comprised of turnkey solutions, image analysis, quality scoring and matching for onboarding customers.

While there was no news for the week for Aware, the company released its second quarter financial results on July 30. The company reported US$3 million in revenue, dipping from US$3.8 million compared to the same time last year. Its operating loss also ticked up to US$1.2 million from US$0.4 million in the second quarter of 2018.

Over the week, Aware’s shares climbed 9.45 percent to hit US$3.01 as of 10:44 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.