PTC Price Target Raised to $45.00 at RBC Capital (PTC)
Research analysts at RBC Capital boosted their target price on shares of PTC (NASDAQ:PTC) from $42.00 to $45.00 in a report released on Wednesday. RBC Capital’s price objective would suggest a potential upside of 20.64% from the stock’s previous close.
A number of other firms have also recently commented on PTC. Analysts at Robert W. Baird raised their price target on shares of PTC from $42.00 to $45.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of PTC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $42.90 price target on the stock. Finally, analysts at B. Riley initiated coverage on shares of PTC in a research note on Thursday, February 27th. They set a “buy” rating and a $47.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. PTC currently has a consensus rating of “Buy” and an average price target of $44.98.
Shares of PTC (NASDAQ:PTC) traded down 0.62% on Wednesday, hitting $37.07. 681,479 shares of the company’s stock traded hands. PTC has a 52 week low of $23.44 and a 52 week high of $40.40. The stock’s 50-day moving average is $35.16 and its 200-day moving average is $35.26. The company has a market cap of $4.410 billion and a P/E ratio of 25.88.
PTC (NASDAQ:PTC) last released its earnings data on Wednesday, April 23rd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.02. The company had revenue of $329.00 million for the quarter, compared to the consensus estimate of $324.86 million. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that PTC will post $2.08 earnings per share for the current fiscal year.
PTC Inc, formerly Parametric Technology Corporation, develops, markets and supports solutions, which help companies design products, manage product information and improve their product development processes.
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