Needham & Company Reiterates Buy Rating on PTC Inc. (PTC)

Needham & Company analyst Richard Valera reiterated a Buy rating and $100.00 price target on PTC Inc. (NASDAQ: PTC). CFO Kristian Talvitie reaffirmed the company's previously issued ARR guidance for F20 of 10-12%, which would appear to suggest F4Q20 is tracking in line with expectations. Also, Valera believes commentary with respect to the company's previously issued LT ARR growth scenarios was interpreted more negatively than intended, based on our follow-up with the company.

Given the new F21 commentary, Needham & Company lowered F21 ARR growth estimate from +12% to +10%, or $1.370B (from $1.391B). This takes F21 revenue estimate down to $1.522B from $1.558B and NG EPS to $2.79 from $2.93.

For an analyst ratings summary and ratings history on PTC Inc. click here. For more ratings news on PTC Inc. click here.

Shares of PTC Inc. closed at $82.30 yesterday.

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