PTC (PTC) Q1 Earnings: What To Expect
Stock Story
Published Jan 30, 2024 02:00AM ET
Updated Jan 30, 2024 06:02AM ET
PTC (PTC) Q1 Earnings: What To Expect
Engineering and design software provider PTC (NASDAQ:PTC) will be reporting results tomorrow after the bell. Here's what to expect.
Last quarter PTC reported revenues of $546.6 million, up 7.6% year on year, missing analyst expectations by 2.3%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.
Is PTC buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting PTC's revenue to grow 15.5% year on year to $538 million, improving on the 1.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at PTC's peers in the vertical software segment, only Agilysys (NASDAQ:AGYS) has so far reported results, delivering top-line growth of 21.3% year on year, and beating analyst estimates by 0.8%. The stock traded flat on the results.
Read the full analysis of Agilysys's results on StockStory. There has been positive sentiment among investors in the vertical software segment, with the stocks up on average 6.1% over the last month. PTC is up 9.6% during the same time, and is heading into the earnings with analyst price target of $185.6, compared to share price of $184.8.
The author has no position in any of the stocks mentioned.
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