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Parametric Technology Earnings Hindsight: Up 2.1% in Last 17 Days (PMTC)

Published on Sat, 02/09/2013 - 09:13
By Robert Cotter

When Parametric Technology (NASDAQ:PMTC) reported earnings two weeks ago on January 23rd, 2013, analysts, on average, expected the company to report earnings of $0.33 on sales of $320.1 million. Parametric Technology actually reported earnings of $0.36 per share on sales of $319.8 million, beating EPS estimates by $0.03 and matching revenue estimates. Since the company's report, shares of Parametric Technology have risen from $23.28 to $23.77, representing a gain of 2.1% in the past 17 days.

There is potential upside of 13.1% for shares of Parametric Technology based on a current price of $23.77 and an average consensus analyst price target of $26.89. The stock should discover initial support at its 50-day moving average (MA) of $22.57 and subsequent support at its 200-day MA of $21.31.

Parametric Technology share prices have moved between a 52-week high of $28.95 and a 52-week low of $17.62 and closed Thursday at 35% above that low price at $23.77 per share. The 200-day and 50-day moving averages have moved 0.34% higher and 1.76% higher over the past week, respectively.

Parametric Technology Corporation develops, markets, and supports integrated product development and processes lifecycle management solutions. The Company's software solutions are used worldwide.

By Robert Cotter