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Based in Boston, Massachusetts, PTC Inc. (PTC) is a global leader in digital transformation solutions, including software for product lifecycle management (PLM), computer-aided design (CAD), and the Internet of Things (IoT). With a market cap of $21.15 billion, PTC is renowned for its innovative software and services that enable companies to improve their product development and operational processes. Leveraging cutting-edge technologies, PTC empowers organizations to optimize their engineering and manufacturing workflows, ensuring enhanced productivity and efficiency. The company is set to announce its fiscal Q3 earnings results on Wednesday, Jul. 24.
Ahead of the event, analysts expect PTC to report a profit of $0.64 per share, unchanged compared to the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in two and missed on two other occasions.
PTC's adjusted earnings of $1.10 per share for the last quarter surpassed the consensus estimate by 26.4%. The company’s performance was primarily driven by strong demand for its CAD and PLM solutions.
For fiscal 2024, analysts expect PTC to report EPS of $3.48, up 17.2% from $2.97 in fiscal 2023.
PTC stock has gained 2.8% YTD, underperforming the broader S&P 500 Index's ($SPX) 17.1% gains and the iShares Expanded Tech-Software Sector ETF’s (IGV) 6.5% returns over the same time frame.
PTC reported its Q2 results on May 1, with revenue of $603.1 million, surpassing Street forecasts of $575.5 million. For the fiscal third quarter, the company expects revenue to be between $525 million and $540 million. For the full year, PTC anticipates revenue ranging from $2.27 billion to $2.34 billion. Following the release of its results, the stock declined 1.4%.
The consensus opinion on PTC stock is bullish, with an overall “Strong Buy” rating. Out of 17 analysts covering the stock, 13 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and three recommend a “Hold.” PTC's average analyst price target is $200.53, indicating a potential upside of 11.5% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
