Evercore ISI Sticks to Their Buy Rating for PTC Inc

By Jason Carr

In a report released today, Kenneth Talanian from Evercore ISI reiterated a Buy rating on PTC Inc (NASDAQ: PTC), with a price target of $65. The company’s shares opened today at $55.15.

Talanian said:

“We believe this risk is further complicated as the company undergoes a transition to generating a greater percentage of sales that from a revenue perspective are recognized ratably which by the nature of the transition has a depressive effect on margins.”

According to TipRanks.com, Talanian is a 3-star analyst with an average return of 3.3% and a 51.4% success rate. Talanian covers the Technology sector, focusing on stocks such as Microsoft Corp, Proofpoint Inc, and Symantec Corp.

Currently, the analyst consensus on PTC Inc is Strong Buy and the average price target is $65, representing a 17.9% upside.

In a report issued on August 23, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $66 price target.

Based on PTC Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $291 million and GAAP net loss of $951K. In comparison, last year the company earned revenue of $290 million and had a net profit of $3.07 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.

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PTC, Inc. develops and provides software-based product management and development solutions. It operates through the following segments: Solutions Group, IoT Group and Professional Services. The Solutions Group segment includes license, subscription, support and cloud services revenue for core CAD, PLM and SLM products.