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3 Technology Stocks Pushing Sector Growth

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,976 as of Monday, July 28, 2014, 3:55 PM ET. The NYSE advances/declines ratio sits at 1,373 issues advancing vs. 1,597 declining with 179 unchanged.

The Technology sector as a whole closed the day down 0.3% versus the S&P 500, which was unchanged. Top gainers within the Technology sector included Trio-Tech International ( TRT), up 4.5%, Nortech Systems ( NSYS), up 2.5%, Cover-All Technologies ( COVR), up 2.4%, Internet Gold Golden Lines ( IGLD), up 8.1% and Bridgeline Digital ( BLIN), up 2.3%.

TheStreet Ratings Group would like to highlight 3 stocks pushing the sector higher today:

Bridgeline Digital ( BLIN) is one of the companies that pushed the Technology sector higher today. Bridgeline Digital was up $0.02 (2.3%) to $0.89 on light volume. Throughout the day, 6,855 shares of Bridgeline Digital exchanged hands as compared to its average daily volume of 44,000 shares. The stock ranged in a price between $0.87-$0.90 after having opened the day at $0.90 as compared to the previous trading day's close of $0.87.

Bridgeline Digital, Inc. develops iAPPS Web engagement management product platform and related digital solutions in the United States. Its iAPPS platform enables companies and developers to create Websites, Web applications, and online stores. Bridgeline Digital has a market cap of $18.4 million and is part of the telecommunications industry. Shares are down 17.9% year-to-date as of the close of trading on Friday. Currently there is 1 analyst who rates Bridgeline Digital a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates Bridgeline Digital as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on BLIN go as follows:

  • BRIDGELINE DIGITAL INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, BRIDGELINE DIGITAL INC reported poor results of -$0.23 versus -$0.07 in the prior year. For the next year, the market is expecting a contraction of 39.1% in earnings (-$0.32 versus -$0.23).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Internet Software & Services industry. The net income has significantly decreased by 236.8% when compared to the same quarter one year ago, falling from -$0.69 million to -$2.31 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Internet Software & Services industry and the overall market, BRIDGELINE DIGITAL INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to -$0.23 million or 138.55% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 26.96%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 160.00% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.

You can view the full analysis from the report here: Bridgeline Digital Ratings Report

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