Rosenblatt Securities Reiterates Buy Rating for PTC (NASDAQ:PTC)

Key Points

• Rosenblatt Securities has reiterated a "buy" rating for PTC, setting a target price of $204.00 for the stock, indicating strong confidence in its performance.
• PTC recently reported an earnings per share (EPS) of $1.79, exceeding expectations and demonstrating a 5.5% increase in revenue year-over-year.
• The stock's current consensus rating is "Moderate Buy" with an average target price of $194.08, reflecting a generally positive outlook among analysts.

Rosenblatt Securities reiterated their buy rating on shares of PTC (NASDAQ:PTC - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $204.00 price target on the technology company's stock.

A number of other analysts have also recently commented on PTC. Piper Sandler lowered their price objective on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. KeyCorp restated an "overweight" rating and issued a $192.00 price objective (up previously from $185.00) on shares of PTC in a research report on Monday, July 7th. Mizuho lowered their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price objective (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, BMO Capital Markets upped their price objective on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.79.

PTC Trading Down 0.8%

Shares of PTC stock traded down $1.68 on Tuesday, hitting $202.51. 1,242,449 shares of the company's stock traded hands, compared to its average volume of 1,408,841. The firm's 50-day moving average price is $179.52 and its two-hundred day moving average price is $169.48. The stock has a market capitalization of $24.29 billion, a PE ratio of 55.63, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. PTC has a one year low of $133.38 and a one year high of $213.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

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

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were 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 of the company's stock, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On PTC

A number of large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of PTC in the 4th quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of PTC in the 1st quarter valued at about $26,000. Motco bought a new stake in shares of PTC in the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of PTC in the 1st quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of PTC in the 1st quarter valued at about $39,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.