Free Newsletters for the Channel
Register for Your Free Newsletter Now
Software as a service (SaaS) stocks extended their 2009 winning streak during the first week of 2010. In fact, The VAR Guy's SaaS 20 Stock Index rose 2.6% for the week ending Jan. 8, 2010, compared to closing prices on Dec. 31, 2009. Winners beat losers by a margin of 3 to 1. Here's a quick look at the biggest one-week movers.
The VAR Guy
January 11, 2010
2 Min Read
saas 20 stock index
Software as a service (SaaS) stocks extended their 2009 winning streak during the first week of 2010. In fact, The VAR Guy’s SaaS 20 Stock Index rose 2.6% for the week ending Jan. 8, 2010, compared to closing prices on Dec. 31, 2009. Winners beat losers by a margin of 3 to 1. Here’s a quick look at the biggest one-week movers.On the upside, the SaaS 20 Stock Index‘s best one-week performers were:
SuccessFactors (SFSF, +15.98%): More than 5 million users now use the company’s so-called Business Execution Software. CFO Bruce Felt is scheduled to speak at a growth stock conference in New York. Also of note: PayScale joined SuccessFactors’ partner program on Jan. 7.
Websense (WBSN, +13.29%): The security company says 4Q bookings topped expectations and investment firm Stifel Nicolaus upgraded Websense’s stock to a buy from a hold on Jan. 8.
Rackspace Hosting Inc. (RAX, +4.80%): The hosting and cloud provider didn’t deliver any news during the week. But The Motley Fool noted Rackspace shares rose 288 percent in 2009, compared to a 57% loss in 2008.
Constant Contact (CTCT, +4.69%): Wall Street Watcher Robert W. Baird upgraded Constant Contact shares from neutral to outperform. The email marketing firm is expected to announce Q4 results on Feb. 4.
Athenahealth Inc. (ATHN, +4.31%): The company, which specializes in Internet-based business services for physician practices, inked a deal with one of the largest doctors networks in Massachusetts.
Of course, not all SaaS 20 Stock Index members rose. The index’s biggest one-week laggard was RightNow (RNOW, -5.24%). The on-demand CRM specialist didn’t announce any major news. But Robert W. Baird raised its target for the company.
About the Author(s)
You May Also Like
Sep 16 - Sep 19, 2024
Sep 16 - Sep 19, 2024
Join us for MSP Summit, September 16-19, 2024 in Atlanta, GA. You don't want to miss the industry’s most innovative and inspiring gathering of business leaders focused on growing their managed services businesses. This year’s MSP Summit will help attendees stay ahead of exponentially increasing security threats, expanding their range of services through a merger or acquisition and embrace a wide range of innovative new technologies. Get notified when registration opens.
Sign Up For Special Deal