Shares of Parametric Technology (NASDAQ: PMTC)
surged in trading on Thursday after the Needham, Massachusetts-based company
announced its first-quarter financial results. The company’s non-GAAP revenue
for the quarter rose 20% on a year-over-year basis.
Parametric shares rose to a new 52-week high of
$26.48 on Thursday before ending the day more than 18% higher on above average
volume. The rally has pushed Parametric shares above their 50-day and 200-day
moving averages.
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