SaaS 20 Stock Index Rises 2.6% for Week Ending Jan. 8
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.