Top Gainers in the Tech Sector during the Week Ended May 5



FireEye earnings and guidance beat estimates

In the first week of May 2017, FireEye (FEYE) saw the largest gain in the tech sector, rising 18.7% on the back of the cybersecurity company’s 1Q17 earnings and guidance topping analyst expectations. The stock has returned 24.5% year-to-date (or YTD).

However, the company has returned only 8.8% over the last six months. This low return occurred because the company’s streak of YoY (year-over-year) double-digit sales growth rate ended in fiscal 4Q16 when the company recorded flat YoY sales growth.

Article continues below advertisement

Twitter’s new partnerships could lead to live content deals

Twitter’s (TWTR) stock price rose 13.4% during the same week. While the company’s earnings report was good, its stock surged as Twitter unveiled partnerships that could lead to deals for live streaming content.

The company beat its earnings estimate on the back of cost-cutting initiatives. However, the stock has only seen a rise of 1.5% in the last six months and a rise of 14.7% on a YTD basis.

Tableau Software showed improvement in bookings quality

Meanwhile, Tableau Software (DATA) stock rose 13.4% in the first week of May. The company produces interactive data visualization products focused on business intelligence.

Although its earnings growth was flat in 1Q17, the company noted that its results suggested strong execution as its bookings quality improved.

Zynga beat earnings estimates

Video game developer Zynga (ZNGA) saw its stock price rise 10.7% in the first week of May after it beat earnings estimates. Zynga reported one of its strongest revenue quarters in recent years as it hit $207 million in bookings, which is a 14% increase from 1Q16. The company’s guidance for its 2Q17 bookings is also a cause for optimism for its shareholders.


More From Market Realist