Evercore ISI analyst Kenneth Talanian maintained a Buy rating on PTC Inc (PTC) yesterday and set a price target of $104. The company’s shares closed last Monday at $67.92, close to its 52-week low of $62.05.
Talanian wrote:
“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 5-star analyst with an average return of 14.8% and a 63.3% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.
Currently, the analyst consensus on PTC Inc is a Moderate Buy with an average price target of $91.30, which is a 35.2% upside from current levels. In a report released yesterday, Rosenblatt Securities also initiated coverage with a Buy rating on the stock with a $83 price target.
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Based on PTC Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.76 million. In comparison, last year the company had a net profit of $17 million.
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PTC, Inc. engages in the development and provision of software-based product management and development solutions. It operates through the Software products and Professional Services segments. The Software Products segment includes license, subscription and related support revenue for its products.