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10 Best Stocks in the Nasdaq on Monday

The best-performing stocks in the Nasdaq on Monday included Splunk Inc., Check Point Software, and Docusign Inc., among others.

Stocks were mixed Monday and pared losses after a new coronavirus strain in the U.K. prompted fresh lockdowns and travel restrictions and overshadowed the announcement that congressional leaders reached an agreement on a roughly $900 billion stimulus package.

The Dow at last check edged up 0.06% to 30,198, the S&P 500 fell 0.52% and the Nasdaq Composite declined 0.32%. The Dow was down as much as 424 points, or 1.4%, during Monday's session.

1. Splunk Inc. | Increased +5.11%

Earlier this month, Splunk  (SPLK) - Get Splunk Inc. Report, the San Francisco provider of data-analysis software, reported a wider fiscal-third-quarter loss on 11% lower revenue.

Both figures, as well as the company’s fourth-quarter revenue outlook, lagged Wall Street’s expectations.

For the quarter ended Oct. 31, Splunk’s loss widened to $1.26 a share from 38 cents a share in the year-earlier quarter. On an adjusted basis, Splunk posted a loss of 7 cents a share.

2. Check Point Software | Increased +3.86%

Check Point Software  (CHKP) - Get Check Point Software Technologies Ltd. Report a global leading provider of cybersecurity solutions said in November that it has been recognized as a Leader in the Gartner Magic Quadrant for Enterprise Network Firewalls for the 21st time in the company’s history.

3. Docusign Inc. | Increased +2.90%

Shares of DocuSign  (DOCU) - Get DocuSign, Inc. Report traded higher earlier this month after the e-signature company posted quarterly results that handily beat analysts’ estimates, prompting a raft of accolades over the company’s prospects as well as several price-target upgrades.

DocuSign posted fiscal third-quarter earnings of 22 cents a share, well above the 13 cents a share forecast by analysts polled by FactSet. Sales rang in at $382.9 million, up 53% year over year and also above expectations of $361.2 million.

4. Microsoft Corp | Increased +1.83%

On Friday, Morgan Stanley analyst Keith Weiss named software giant Microsoft  (MSFT) - Get Microsoft Corporation Report a top pick for next year and increased his price target on the stock to $260 from $249.

He has an overweight rating on the stock.

“With tough near-term comparisons already in consensus estimates, and the multiple having pulled back to 26 times [estimated] 2022 calendar year EPS, we see the potential for outperformance in the fiscal year 2021 [ending June 30],” Weiss wrote in a commentary. 

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5. Apple Inc. | Increased +1.24%

Apple’s  (AAPL) - Get Apple Inc. Report iPhone business in China received a positive assessment on Friday from Morgan Stanley analyst Katy Huberty, who has an overweight rating and a $144 target price on the stock.

“We believe iPhone is outperforming expectations in China, as data through the end of November points to year-over-year iPhone shipment growth and share gains in China,” Huberty wrote in a commentary.

6. Nxp Semiconductors | Increased +0.98%

NXP Semiconductors  (NXPI) - Get NXP Semiconductors NV Report, which among other things is the world’s biggest automotive chip supplier, told customers in late November that it’s raising prices on all products. The company cited both higher materials costs and a “severe shortage” of chips.

7. Idexx Laboratories | Increased +0.86%

Idexx Laboratories  (IDXX) - Get IDEXX Laboratories, Inc. Report reported in October its third-quarter 2020 earnings, posting revenues of $722 million for the third quarter of 2020, an increase of 19% on a reported and 18% on an organic basis.

8. Zoom Video | Increased +0.73%

Earlier this month, shares of Zoom Video Communications  (ZM) - Get Zoom Video Communications, Inc. Class A Report fell sharply Tuesday, as analysts expressed concern about valuation despite the video-conferencing company releasing a strong earnings report

9. Fastenal Company | Increased +0.55%

In October, industrial and construction equipment supplier Fastenal  (FAST) - Get Fastenal Company Report dropped after it reported third-quarter revenue below estimates.

The Winona, Minnesota-based company reported third-quarter revenue of $1.41 billion, a 2.5% increase, and earnings of 38 cents per share.

Analysts were expecting the company to report revenue of $1.42 billion and earnings of 37 cents per share. 

10. Paypal Holdings | Increased +0.54%

In November, PayPal  (PYPL) - Get PayPal Holdings, Inc. Report, the payment processing services giant, reported that third-quarter net income more than doubled on 25% higher revenue, beating Wall Street's forecasts.

The company has benefited from the surge in online payments during the coronavirus pandemic.

In the quarter, the San Jose, Calif., company earned 86 cents a share compared with 39 cents a share in the year-earlier quarter. Adjusted earnings in the latest period were $1.07 a share, up 41% from 76%.

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