Oppenheimer Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

Key Points

• Oppenheimer has raised its price target for PTC stock from $210.00 to $225.00, indicating a potential upside of 11.35% from the current price, while maintaining an "outperform" rating.
• Despite some mixed ratings from other analysts, PTC currently holds a consensus rating of "Moderate Buy" with an average target price of $194.08.
• PTC reported an EPS of $1.79 for the last quarter, which exceeded analyst estimates and highlighted a 5.5% year-over-year revenue increase, with total revenue of $636.37 million.

PTC (NASDAQ:PTC - Get Free Report) had its price objective upped by analysts at Oppenheimer from $210.00 to $225.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Oppenheimer's price objective indicates a potential upside of 11.35% from the company's current price.

PTC has been the subject of several other reports. Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. BMO Capital Markets upped their price objective on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $160.00 target price (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Mizuho cut their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler cut their target price on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $194.08.

PTC Stock Performance

Shares of PTC stock opened at $202.06 on Friday. PTC has a one year low of $133.38 and a one year high of $213.14. The company has a market cap of $24.24 billion, a price-to-earnings ratio of 55.51, a PEG ratio of 2.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $176.97 and its 200 day moving average price is $168.92.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The company had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Bartlett & CO. Wealth Management LLC bought a new stake in PTC during the first quarter worth approximately $26,000. Motco purchased a new stake in PTC during the first quarter valued at about $29,000. Aster Capital Management DIFC Ltd purchased a new stake in PTC during the fourth quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PTC during the first quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT acquired a new stake in PTC during the 1st quarter valued at $39,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

About PTC

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.

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