Saba Software Inc.
(NASDAQ: SABA) shares rallied in trading on Friday after the Redwood Shores,
California-based company announced its second-quarter financial results. The
company’s cloud revenue rose 64% on a year-over-year basis. Total deferred
revenue for the quarter jumped 33%.
Saba Software shares
rose to an intra-day high of $8.70 on Friday. It ended the day 15.65% higher on
above average volume. The rally pushed Saba Software shares above their 50-day
and 200-day moving averages.
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