12 Information Technology Stocks Moving In Friday's Pre-Market Session
Portfolio Pulse from Benzinga Insights
In Friday's pre-market session, several Information Technology stocks showed significant movement. AXT, AEye, OneSpan, Clearfield, Upland Software, and OMNIQ were among the gainers, with AXT leading by a 25.7% increase following their Q1 earnings report. Conversely, Sprout Social, Marin Software, Radcom, Cloudflare, BigBear.ai Holdings, and Sobr Safe were the losers, with Sprout Social dropping 29% after their Q1 earnings announcement.
May 03, 2024 | 12:06 pm
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NEGATIVE IMPACT
Cloudflare's stock declined 13.73% to $76.76 after their Q1 earnings report, with a market cap of $26.0 billion.
Cloudflare's pre-market stock price drop is a direct response to their Q1 earnings, pointing towards a negative short-term market sentiment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Sprout Social's shares fell 29% to $34.19 in pre-market trading following their Q1 earnings release, with a market cap of $1.9 billion.
Sprout Social's significant drop in stock price can be attributed to a negative market reaction to their Q1 earnings, suggesting a bearish outlook in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
AXT's stock surged 25.7% to $3.81 in pre-market trading after announcing Q1 earnings, with a market cap of $168.5 million.
The significant pre-market increase in AXT's stock price is likely due to positive investor reaction to their Q1 earnings report, indicating strong short-term bullish sentiment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90