TipRanksStock Market NewsPTC NewsPTC (PTC) Receives a Buy from Rosenblatt Securities

PTC (PTC) Receives a Buy from Rosenblatt Securities

Rosenblatt Securities analyst Blair Abernethy maintained a Buy rating on PTC (PTCResearch Report) today and set a price target of $146.00. The company’s shares closed last Wednesday at $110.89.

According to TipRanks.com, Abernethy is a 1-star analyst with an average return of -4.3% and a 39.8% success rate. Abernethy covers the Technology sector, focusing on stocks such as Manhattan Associates, Altair Engineering, and Cadence Design.

Currently, the analyst consensus on PTC is a Strong Buy with an average price target of $131.43, implying a 22.0% upside from current levels. In a report issued on July 19, Mizuho Securities also maintained a Buy rating on the stock with a $120.00 price target.

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Based on PTC’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $505 million and net profit of $89.68 million. In comparison, last year the company earned revenue of $462 million and had a net profit of $109 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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