Oppenheimer Issues Positive Forecast for PTC (NASDAQ:PTC) Stock Price

PTC (NASDAQ:PTC) had its price objective hoisted by stock analysts at Oppenheimer from $170.00 to $190.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price suggests a potential upside of 12.20% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Mizuho reduced their price target on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Piper Sandler decreased their price target on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, BMO Capital Markets boosted their price objective on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Six 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 stock has an average rating of “Moderate Buy” and a consensus target price of $188.69.

PTC Stock Performance

NASDAQ PTC opened at $169.34 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $20.31 billion, a price-to-earnings ratio of 52.27, a P/E/G ratio of 2.27 and a beta of 1.18. The company’s fifty day moving average is $160.41 and its two-hundred day moving average is $171.06. PTC has a 52-week low of $133.38 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that PTC will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the 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 sale, the executive vice president now owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Corinna Lathan sold 622 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in PTC during the 4th quarter worth $30,000. Bartlett & CO. Wealth Management LLC bought a new position in PTC in the first quarter valued at about $26,000. Motco acquired a new stake in shares of PTC during the first quarter valued at about $29,000. Allworth Financial LP boosted its stake in shares of PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PTC during the first quarter valued at about $33,000. 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.