Stock Watch: Puma Technology Keeps Soaring

Shares of Puma Technology (Nasdaq: PUMA), which develops software for handheld computers and other wireless devices, continued a remarkable run on Monday, gaining 16-3/16 to 178-3/4. Puma Technology’s stock is now nearly 48 times higher than its 52-week low.

Friday, Puma Technology announced that it had completed its acquisition of NetMind Technologies, a provider of Internet infrastructure software for personalization. Also on Friday, Puma received a strong buy rating from H.C. Wainright and a buy rating from Robertson Stephens. The recommendations came one day after Puma Technologies announced second quarter revenue of $7 million and a second quarter profit of $452,000, or three cents per share. These figures handily exceeded analysts’ expectations of a loss of seven cents per share for the second quarter.

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