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Robert W. Baird Thinks PTC’s Stock is Going to Recover

In a report released yesterday, Joseph Vruwink from Robert W. Baird maintained a Buy rating on PTC (PTCResearch Report), with a price target of $156.00. The company’s shares closed last Tuesday at $97.88, close to its 52-week low of $97.00.

According to TipRanks.com, Vruwink is a 1-star analyst with an average return of -2.7% and a 35.4% success rate. Vruwink covers the Technology sector, focusing on stocks such as Manhattan Associates, Instructure Holdings, and Bentley Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PTC with a $132.67 average price target, implying a 33.2% upside from current levels. In a report issued on April 20, Rosenblatt Securities also maintained a Buy rating on the stock.

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The company has a one-year high of $153.73 and a one-year low of $97.00. Currently, PTC has an average volume of 676.1K.

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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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