Stocks fell sharply on Friday, extending Thursday's selloff. Tech stocks fell for the second straight day. Here are some of the top movers in tech for Sept. 4.
Shares of DocuSign (DOCU) - Get DocuSign, Inc. Report fell 11.1% to $215 on Friday, despite a well-received second-quarter earnings report. The e-signature company beat Wall Street's estimates on earnings and revenue, and issued guidance that was higher than consensus estimates. Analysts were largely bullish on the stock following Thursday's release.
Shares of Domo (DOMO) - Get Domo, Inc. Class B Report rose 9.4% to $40.77 on Friday after the company easily beat revenue estimates and reported strong billings growth for the second quarter. Cowen analyst J. Derrick Wood raised his price target on shares of the Utah-based cloud software company to $50 from $42, saying he's heard about a very large deal in the pipeline.
Shares of nCino (NCNO), which sells operating systems to banks, fell 9.1% to $79.12 ahead of its first quarterly release as a public company, scheduled for Sept. 9. nCino went public in mid-July, and has dropped about 13% since its IPO.
Shares of PayPal (PYPL) - Get PayPal Holdings Inc Report fell 6.8% to $191.34 on Friday. The fintech giant has well outpaced the market this year, gaining 71% year to date inclusive of the recent selloff.
Shares of Broadcom (AVGO) - Get Broadcom Inc. Report rose 1.5% to $357.57 after the chipmaker reported robust financial results for its fiscal third quarter. Broadcom earned $5.40 a share on a non-GAAP basis on sales of $5.82 billion, beating estimates on both counts. Its fourth-quarter guidance of $6.25 billion and to $6.55 billion was also above estimates.