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PTC (PTC) Gets a Buy Rating from Berenberg Bank

In a report released yesterday, Gal Munda from Berenberg Bank maintained a Buy rating on PTC (PTCResearch Report), with a price target of $165.00. The company’s shares closed last Monday at $117.60.

According to TipRanks.com, Munda is a 3-star analyst with an average return of 6.4% and a 55.6% success rate. Munda covers the Technology sector, focusing on stocks such as Trimble Navigation, Cadence Design, and Matterport.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PTC with a $155.64 average price target, representing a 36.0% upside. In a report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $170.00 price target.

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PTC’s market cap is currently $13.86B and has a P/E ratio of 29.27.

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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. The Professional Services segment consists of consulting, implementation and training services. The company was founded in 1985 and is headquartered in Boston, MA.

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