10 Nasdaq Stocks That Have Hit 52-Week Highs This Week

Rising tech and banking stocks pushed the markets to fresh highs on Monday, though the Nasdaq stalled on Tuesday, dipping by 0.38%, being led downward by the disappointing quarterly subscription numbers out of Netflix Inc. (NASDAQ:NFLX).

Nonetheless, several important Nasdaq stocks have hit their 52-week high this week, including ARI Network Services, Inc. (NASDAQ:ARIS), Acacia Communications, Inc. (NASDAQ:ACIA), BroadSoft Inc (NASDAQ:BSFT), CDK Global Inc (NASDAQ:CDK), Carmike Cinemas, Inc. (NASDAQ:CKEC), Dollar Tree, Inc. (NASDAQ:DLTR), Garmin Ltd. (NASDAQ:GRMN), Match Group Inc (NASDAQ:MTCH), Texas Instruments Incorporated (NASDAQ:TXN), and Zillow Group, Inc.- Class C (NASDAQ:Z). We’ll take a look at performance of all of these stocks in this article.

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ARI Network Services, Inc. (NASDAQ:ARIS)’s stock soared to its 52-week high of $5.47 early Monday before quickly retreating back to the $5.30-level, where it remained throughout Tuesday. The stock has a ‘Buy’ rating and a $6 price target on it by analysts at Ascendiant Capital Markets. Just two hedge funds in our database owned shares of ARI Network Services, Inc. (NASDAQ:ARIS) at the end of the first quarter.

Acacia Communications, Inc. (NASDAQ:ACIA) surged to its 52-week high $60.90 on Tuesday, gaining 2.87% during the day’s session. Last week, Deutsche Bank reiterated its ‘Buy’ rating on the Massachusetts-based cable company, and hiked its price target on it to $60 from $50, which the stock has quickly surpassed. Shares have gained 14% in the last five trading sessions.

BroadSoft Inc (NASDAQ:BSFT) has also enjoyed a strong week, surging by over 7% in the last five sessions to reach its one-year high of $46.46 on Tuesday. The company is expected to announce its second quarter results on August 1. A total of 16 hedge funds in our database of nearly 766 active funds held about $106.3 million worth of positions in BroadSoft Inc (NASDAQ:BSFT) as of March 31.

CDK Global Inc (NASDAQ:CDK) soared out of the gate on Monday, reaching its 52-week high of $58.93 before sliding back down to the $58-mark. Last month, JP Morgan upgraded the company to ‘Neutral’, but only has a price target of $49 on it. 41 hedge funds tracked by Insider Monkey were bullish on CDK Global Inc (NASDAQ:CDK) at the end of the first quarter, up from 34 funds a quarter earlier.

Carmike Cinemas, Inc. (NASDAQ:CKEC) hit its 52-week high of $31.89 on Monday, but dipped by 0.63% on Tuesday. Last week, the company postponed its shareholder meeting that was scheduled to vote on its proposed $1.1 billion sale to AMC following reports that AMC was considering sweetening its $30 per share offer, which prompted shares to surge higher. Carmike Cinemas has scheduled the next vote for July 25. 26 hedge funds in our system were long Carmike Cinemas, Inc. (NASDAQ:CKEC) at the end of March.

We’ll continue the discussion with five more Nasdaq stocks that touched their yearly highs this week on the next page.

Dollar Tree, Inc. (NASDAQ:DLTR)’s stock reached its 52-week high on Monday, touching $96.27. Goldman Sachs and Buckingham Research both reiterated their ‘Buy’ ratings on the company’s stock recently. Buckingham Research has a $106 price target on it. Shares of Dollar Tree have jumped by 22.17% in 2016.

Garmin Ltd. (NASDAQ:GRMN) has soared to new yearly highs this week, cresting the $45.75-mark. On Tuesday, the Swiss manufacturer of navigation devices announced a new Garmin Navigation Database and integration of geo-referenced Jeppesen terminal charts within the Garmin Pilot app on Apple Inc. (NASDAQ:AAPL) mobile devices.

Match Group Inc (NASDAQ:MTCH) reached its 52-week high of $16.63 on Monday and pushed it to $16.99 on Tuesday. Analysts at SunTrust recently reiterated their ‘Buy’ rating on shares of the dating site operator and have a price target of $18 on them.

Texas Instruments Incorporated (NASDAQ:TXN) rose to a 52-week high of $65.52 on Monday, but dipped by 0.38% today. The company could face top-line challenges if Apple’s iPhone sales continue to slump. Apple is the company’s biggest customer, accounting for 11% of its revenue.

Zillow Group, Inc.- Class C (NASDAQ:Z) moved to its 52-week high during trading on Tuesday, hitting $37.92. The stock has performed exceptionally well since early-February, gaining 122% since February 8. 21 hedge funds that we track held stakes in Zillow Group, Inc.- Class C (NASDAQ:Z) at the end of the first quarter and are surely pleased with its recent performance.

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