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.