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The Best And Worst Technology Company Stocks In 2017

Thirty-two of the 42 of the technology companies on our watch list recorded gains in the price of their publicly traded shares in 2017. Here's a look at who gained and who didn't.

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Red Hat

CEO: James Whitehurst

Dec. 30, 2016: $69.70

Dec. 29, 2017: $120.10

Change: +72.31%

It was a good year for open-source software vendor Red Hat – and its shareholders – as the company's stock recorded the most growth in 2017 among all the companies on our watch list. The vendor enjoyed increased demand for its flagship Linux operating system and JBoss middleware, as well as for the company's virtualization, cloud computing, hyper-converged infrastructure, storage and management software.

On Dec. 19 Red Hat reported that revenue in its fiscal 2018 third quarter (ended Nov. 30) was just under $748.0 million, up nearly 22 percent from $615.3 million in the same quarter one year earlier. Net income for the just-completed quarter was $101.3 million, up 49 percent from $67.9 million one year before.

Those results contributed to the $2.15 billion in revenue for the first three quarters of Red Hat's fiscal 2018, up 20 percent from $1.78 billion in the first three quarters of fiscal 2017. Net income for the three quarters totaled $271.4 million, up more than 44 percent from $187.9 million one year earlier.

During the year Red Hat acquired Codenvy, a provider of Agile and cloud-native development tools, and acquired the assets and technology of Permabit Technology, a developer of software for data de-duplication, compression and thin provisioning.

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