Seagate, Freshworks, Palo Alto Networks Draw Heavy Retail Chatter On Stocktwits Among Tech Stocks: More Details Inside

The tech-heavy Nasdaq Composite Index closed 0.38% lower at 21,098 on Tuesday, dragged by negative earnings. Here are the top three tech companies that saw the highest retail chatter on Stocktwits in the last 24 hours:

1. Seagate Technology Holdings (STX): The data storage company saw retail chatter surge 4300% in 24 hours after the company reported better-than-expected fourth-quarter (Q4) earnings.

Retail sentiment around the stock remained in the ‘bullish’ (65/100) territory while the message volume improved to ‘extremely high’ (79/100) from ‘normal’ levels in the last 24 hours.

The company reported Q4 adjusted earnings per share (EPS) of $2.59 and revenue of $2.44 billion, surpassing the analysts’ consensus estimate of $2.44 and $2.42 billion, respectively, as per Fiscal AI data.

Seagate stock traded over 5% lower in Wednesday’s premarket.

2. Freshworks Inc. (FRSH): The cloud-based software-as-a-service company saw retail message count explode by 3000% in 24 hours after better-than-expected Q2 earnings on Tuesday after market close.

Retail sentiment around the stock improved to ‘extremely bullish’ (85/100) from ‘bullish’ territory the previous day. Message volume also shifted to ‘extremely high’ (82/100) from ‘high’ levels in 24 hours. Both the retail sentiment and message volume hit a month-high.

The company reported Q2 adjusted earnings per share (EPS) of $0.18 and revenue of $204.7 million, surpassing the analysts’ consensus estimate of $0.12 and $198.94 million, respectively, as per Fiscal AI data.

Freshworks stock traded over 1% higher in Wednesday’s premarket.

3. Palo Alto Networks Inc. (PANW): The cybersecurity provider experienced a 2000% surge in retail message count in the last 24 hours after media reports that the company could be negotiating a potential acquisition of Israeli cybersecurity firm CyberArk Software (CYBR), in a transaction that might exceed $20 billion in value.

Retail sentiment around the stock improved to ‘bullish’ (66/100) from ‘bearish’ territory the previous day. Message volume jumped as well, to ‘extremely high’ (77/100) from ‘low’ levels in the last 24 hours.

Palo Alto Networks stock inched 0.7% higher in Wednesday’s premarket.

Also See: Meta Q2 Earnings On Deck: Can Zuckerberg Justify Massive AI Bet To Wall Street?

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