PTC Inc. (PTC) Faces Price Target Cuts, But Analysts See Stability

PTC Inc. (NASDAQ:PTC) is among the most profitable software stocks to buy now. On February 9, TheFly reported that BofA reduced its price target on PTC Inc. (NASDAQ:PTC) to $172, down from $190, and reiterated a Neutral rating. The company’s macroeconomic backdrop remains challenging but shows no further deterioration, the firm noted. That said, it lowered its annual sales outlook following the earnings report.

Earlier, on February 6, BMO Capital reduced its price target on PTC Inc. (NASDAQ:PTC) to $189 from $219 and maintained an Outperform rating post financial results. The company’s quarterly performance is what the firm called “okay,” noting that commentary on contracted deferred Annual Recurring Revenue (ARR) offers some reassurance about the usual back-half growth ramp.

BMO Capital remains optimistic about the company’s strategy, saying that PTC Inc. (NASDAQ:PTC)’s focus on advancing CAD, data management, and life-cycle solutions for manufacturers offers long-lasting opportunities. The company’s stable growth outlook and share repurchase plans are the basis of the firm’s bullish stance.

PTC Inc. (NASDAQ:PTC) is a Massachusetts-based software company that offers products including Windchill, ThingWorx, ServiceMax, and Arena. Incorporated in 1985, the company also offers solutions, such as Kepware, Kepware Edge, and KEPServerEX.

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