KeyBanc Reiterates a Buy Rating on PTC Inc

By Jason Carr

In a report released yesterday, Monika Garg from KeyBanc reiterated a Buy rating on PTC Inc (NASDAQ: PTC), with a price target of $55. The company’s shares opened today at $47.32, close to its 52-week high of $47.64.

According to TipRanks.com, Garg is a 4-star analyst with an average return of 5.4% and a 64.6% success rate. Garg covers the Technology sector, focusing on stocks such as Dassault Systemes S.A., Aspen Technology, and Mentor Graphics.

Currently, the analyst consensus on PTC Inc is Strong Buy and the average price target is $58, representing a 22.6% upside.

In a report issued on October 27, Wedbush also reiterated a Buy rating on the stock with a $54 price target.

The company has a one year high of $47.64 and a one year low of $27.06. Currently, PTC Inc has an average volume of 1.05M.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Matthew Lessner Cohen, the EVP Global Services of PTC sold 8,000 shares for a total of $340,560.

PTC, Inc. develops and provides software-based product management and development solutions. It operates through the Software Products and Services segments. The Software Products segment includes license and related support revenue for all its products except training related products. The Services segment includes consulting, implementation, training and license and support revenue for computer based training products. The company was founded in 1985 and is headquartered in Needham, MA.