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PTC

PTC

$44.31

0.43 (0.98%)

07:03
10/03/16
10/03
07:03
10/03/16
07:03

PTC sees preliminary Q4 bookings at $139M-$143M, above previous view

PTC announced that preliminary bookings for the fourth fiscal quarter ended September 30, 2016 are expected to be between $139 million and $142 million, above the high end of the company's previous guidance of $111 million to $121 million. There are two mega deals in the quarter, including a competitive PLM displacement within one of the top Tier 1 global automotive suppliers, and a worldwide cloud implementation of PTC's service parts management solution - both a testament to PTC's leading technology position in these markets. "PTC also now expects its Q4'16 bookings subscription mix to be approximately 70%, significantly exceeding its prior guidance of 46%. Due primarily to the higher than expected subscription mix, and also the incremental commission expense associated with bookings and subscription outperformance, we expect GAAP and non-GAAP revenue, and GAAP and non-GAAP EPS to be below the low end of our prior guidance. In addition, in support of continued realignment of resources toward higher growth opportunities and driving long-term margin expansion, PTC now expects FY'16 restructuring charges of approximately $75 to $80 million, above the $50 million to $70 million range included in the company's Q3'16 form 10-Q filed on August 11, 2016, and the $40 million to $50 million range included in our Q4'16 guidance on July 20, 2016."

PTC PTC
$44.31

0.43 (0.98%)

06/06/16
RBCM
06/06/16
NO CHANGE
RBCM
PTC event to foucs on new products, subscription benefits, IoT, says RBC Capital
RBC Capital says it expects PTC to launch new products at its June 6-9 LiveWorx event. The firm expects the new products to focus on the integration/cross-selling of the Internet of Things with the company's core solutions. RBC predicts that PTC will also focus on the benefits of converting to subscription pricing ,and the firm says that the trend of maintenance customers converting to subscription could accelerate and boost the company's full-year results. It keeps a $44 price target and Outperform rating on the shares.
07/15/16
WEDB
07/15/16
NO CHANGE
WEDB
PTC checks positive, says Wedbush
After conducting checks with resellers, Wedbush says that the company is making "good progress" with its subscription model, while it is seeing "limited impact" from Brexit. The firm expects the company's bookings growth to come in at double digit percentage levels. It reiterates a $43 price target and Outperform rating on the stock.
08/01/16
SBSH
08/01/16
INITIATION
Target $48
SBSH
Buy
PTC initiated with a Buy at Citi
Citi analyst Kenneth Wong started PTC with a Buy rating and $48 price target. The analyst expects margin expansion to boost the company's earnings and cash flow.
09/14/16
EVER
09/14/16
INITIATION
Target $50
EVER
Buy
PTC initiated with a Buy at Evercore ISI
Target $50.

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