Canadian Software Stock Powers Higher on Financial Results

Published:

Enghouse Systems Limited (TSX:ENGH), a Canadian software stock, jumped on Q2 financial results

Sean Mason | June 5, 2020 | SmallCapPower

Surging revenue and net income propelled a Canadian software stock Friday. Here’s some small stocks making big moves on Friday, June 5, 2020 (as of 4 pm EST):

Enghouse Systems Limited (TSX:ENGH), a Canadian software stock, climbed as much as 23% before ending 4% higher at $65.19 on Friday after announcing second-quarter revenue that rose 58% year-over-year to $140.9 million, while net income for the period increased 64% to $27.1 million.

Win Big With Our Small Cap Picks

 

As well, shares of Zenabis Global Inc. (TSX:ZENA) rose 4% to $0.14 as the Canadian cannabis company said it has signed a binding term sheet for the supply of medical cannabis, a minimum of 500 kg per year for a term of three years, to the German market.

MAV Beauty Brands Inc. (TSX:MAV), meanwhile, reported first-quarter revenue that increased 30% year over year to US$31.4 million, while recording adjusted net income for the quarter of $3.6 million, a 35% increase over Q1 2019. MAV Beauty Brands stock moved up 38% to $3.75 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

To read our full disclosure, please click on the button below:

Related articles

Recent articles