Tech Stock Movers of the Week

Our latest list of tech stock* movers of the week includes one of tech stocks we said to keep an eye on last week: Palo Alto Networks Inc. (NYSE: PANW).

The California cybersecurity company reported its latest quarterly earnings on Thursday, with earnings per share coming in at $0.92 compared to an expected $0.79. It was the second straight quarter that the stock enjoyed a spike in price thanks to a big earnings beat. PANW closed the week up 14% at $146.50.

Himax Technologies Inc. (Nasdaq: HIMX) surged after a Wednesday announcement that the Taiwanese company would be teaming up with Qualcomm Inc. (Nasdaq: QCOM) to develop a sophisticated 3D camera system. The depth-sensing cameras would be low-power, high-resolution, and would include face authentication and scene perception capability. The technology is intended to serve the growing Internet of Things industry as well as virtual reality and connected automobiles. HIMX closed the week up 20.8% at $10.52.

Match Group Inc. (Nasdaq: MTCH) jumped 18.7%. The dating service provider climbed steadily through the week, closing up every day as it reached an all-time high. One of the reasons for the rise was last week's news that Match's subsidiary Tinder launched Tinder Gold, a $5-per-month add-on offering premium features. News also broke that Match Group had converted options in its subsidiary Tinder (held by early backers and employees) into MTCH options worth around $1 billion, valuing Tinder at about half of the parent company's market cap. MTCH closed the week at $22.39.

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Now for last week's tech disappointments...

Ambarella Inc. (Nasdaq: AMBA) plunged nearly 20% on Friday after the video chip maker released its quarterly earnings. Ambarella beat estimates on earnings and revenue, but investors are wary of the company's forward guidance. Its biggest client, GoPro Inc. (Nasdaq: GPRO), has gone with a competitor for its latest camera. Furthermore, Qualcomm's growing presence in the video industry puts a damper on Ambarella's growth prospects. AMBA closed the week at $43.01.

Ubiquiti Networks Inc. (Nasdaq: UBNT) fell 8.8%. The networking solution provider turned in a strong earnings report in August, but it has been on the slide since then, down 11% in the last month. A couple weeks ago, Ubiquiti unveiled FrontRow, a camera that users can wear like a pendant. But Wall Street is apparently not impressed with the new product, which retails at $399. UBNT closed the week at $58.97.

Tech Stocks to Watch This Week

Here are a couple tech stocks we're keeping an eye on for the coming week...

• Hewlett Packard Enterprises Inc. (NYSE: HPE) reports its quarterly earnings on Tuesday, Sept. 5. HPE has been up and down throughout 2017. More recently, the stock is up nearly 12% since early July, so the report could either help it break out or kill its momentum.
• Cloudera Inc. (NYSE: CLDR) reports on Thursday, Sept. 7. CLDR has made several appearances on our Tech Stock Movers of the Week, so watch for volatility following the announcement.

We'll keep you updated if there's anything you need to know to make money on these moves.

*Stocks have a primary listing on a U.S. exchange, a market cap greater than $1 billion, and are in either the Technology Services or Electronic Technology sector. Data and analytics provided by FactSet.

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Stephen Mack

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Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.

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