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

Key Points

• Oppenheimer raised PTC's price target from $225.00 to $240.00, suggesting a potential upside of 9.56% based on the stock's recent closing price.
• PTC reported quarterly earnings of $1.64 per share, exceeding estimates of $1.22, with revenues reaching $643.94 million, up 24.2% year-over-year.
• PTC currently holds a consensus rating of "Moderate Buy" among analysts, with ten analysts giving it a buy rating and seven a hold rating.

PTC (NASDAQ:PTC - Get Free Report) had its target price upped by equities researchers at Oppenheimer from $225.00 to $240.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Oppenheimer's price objective suggests a potential upside of 13.15% from the company's current price.

A number of other equities research analysts have also commented on PTC. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research report on Tuesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. BMO Capital Markets increased their price target on PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research report on Thursday. KeyCorp reaffirmed an "overweight" rating and set a $192.00 price target (up from $185.00) on shares of PTC in a research report on Monday, July 7th. Finally, Cantor Fitzgerald set a $120.00 price target on PTC and gave the company an "overweight" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

PTC Stock Down 1.3%

NASDAQ:PTC traded down $2.70 on Thursday, hitting $212.11. The stock had a trading volume of 1,598,374 shares, compared to its average volume of 1,547,054. The business's fifty day moving average is $181.28 and its 200 day moving average is $169.88. The company has a market cap of $25.44 billion, a PE ratio of 50.03, a P/E/G ratio of 2.92 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. PTC has a 52 week low of $133.38 and a 52 week high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. PTC's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities research analysts expect that PTC will post 4.46 EPS for the current fiscal year.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On PTC

Several large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of PTC by 17.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock worth $3,147,478,000 after buying an additional 3,048,311 shares during the period. Vanguard Group Inc. increased its holdings in shares of PTC by 0.3% in the first quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock worth $2,220,771,000 after buying an additional 39,688 shares during the period. Geode Capital Management LLC increased its holdings in shares of PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after buying an additional 67,504 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of PTC by 41.6% in the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after buying an additional 844,418 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of PTC by 1.9% in the first quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock worth $367,382,000 after buying an additional 44,961 shares during the period. Institutional investors own 95.14% of the company's stock.

PTC Company Profile

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.