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PTC

PTC

$98.51

-0.4 (-0.40%)

08:43
07/19/18
07/19
08:43
07/19/18
08:43

PTC shares should be bought on any weakness, says Baird

Baird analyst Rob Oliver said PTC reported "solid" Q3 results despite some noise around reported numbers due to foreign exchange headwinds and a larger mix of perpetual revenues in APAC customers. The analyst calls PTC one of the most exciting stories in software and he would be aggressive on any weakness. Oliver reiterated his Outperform rating and $110 price target on PTC shares.

PTC PTC
$98.51

-0.4 (-0.40%)

07/19/18
BREN
07/19/18
NO CHANGE
Target $115
BREN
Buy
PTC price target raised to $115 from $100 at Berenberg
Berenberg analyst Gal Munda raised his price target for PTC to $115 saying the company's growth is on track following the "roughly in line" Q3 results. The analyst increased his estimates to reflect the fiscal 2021 free cash flow outlook raise and maintains a Buy rating on the shares.
07/19/18
JPMS
07/19/18
NO CHANGE
Target $109
JPMS
Neutral
PTC results likely to bring some selling pressure, says JPMorgan
JPMorgan analyst Sterling Auty believes PTC's "noisy" Q3 results are likely to be met with some selling pressure. There were a couple moving parts, including a lower subscription mix, that are likely to weigh on shares near-term, Auty tells investors in a post-earnings research note. He believes, however, that the company's overall demand "still appears solid across the product lines." The analyst raised his price target for PTC shares to $109 from $101 and keeps a Neutral rating on the name.
07/18/18
MUFG
07/18/18
NO CHANGE
Target $81
MUFG
Neutral
PTC price target raised to $81 from $74 at MUFG
MUFG analyst Stephen Bursey raised his price target on PTC to $81 and kept his Neutral rating after its Q3 earnings beat. Bursey notes that PTC's core business remains strong and the company had a "solid" quarter while also announcing an update in its revenue model shift to discontinue new perpetual license sales in the remaining regions. The analyst maintains however that he is still concerned over PTC's longer-term growth targets, opting to await for benefits coming from a much higher rate of growth in the Internet of Things technology.
07/09/18
COWN
07/09/18
INITIATION
Target $112
COWN
Outperform
PTC could be subject to strategic acquisition in the next 2-3 years, says Cowen
As previously reported, Cowen analyst Matthew Broome initiated PTC with an Outperform rating and $112 price target, telling investors in a research note that his market and competitor analysis shows that the company's ThingWorx platform is "incredibly well positioned" in the industrial IoT software market and poised to take share. Broome says valuation looks "very reasonable" vs. peers, as its transition to subscription licensing should help revenue and free cash flow growth accelerate materially. Additionally, he sees as "meaningful possibility" that PTC will be subject to a takeover by another company within the next 2-3 years, possibly in the industrial automation vertical, and possibly sooner if valuation becomes more accommodating.

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