Fintel reports that on October 30, 2023, Oppenheimer upgraded their outlook for PTC (NASDAQ:PTC) from Perform to Outperform .
Analyst Price Forecast Suggests 24.89% Upside
As of October 5, 2023, the average one-year price target for PTC is 169.93. The forecasts range from a low of 151.50 to a high of $189.00. The average price target represents an increase of 24.89% from its latest reported closing price of 136.06.
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The projected annual revenue for PTC is 2,188MM, an increase of 6.30%. The projected annual non-GAAP EPS is 5.38.
What is the Fund Sentiment?
There are 1209 funds or institutions reporting positions in PTC. This is an increase of 47 owner(s) or 4.04% in the last quarter. Average portfolio weight of all funds dedicated to PTC is 0.36%, an increase of 5.05%. Total shares owned by institutions increased in the last three months by 0.73% to 114,568K shares. 
The put/call ratio of PTC is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,768K shares representing 4.01% ownership of the company. In it's prior filing, the firm reported owning 4,249K shares, representing an increase of 10.90%. The firm increased its portfolio allocation in PTC by 18.33% over the last quarter.
Pictet Asset Management holds 4,763K shares representing 4.01% ownership of the company. In it's prior filing, the firm reported owning 4,892K shares, representing a decrease of 2.72%. The firm increased its portfolio allocation in PTC by 76.03% over the last quarter.
Alliancebernstein holds 3,775K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 4,110K shares, representing a decrease of 8.89%. The firm decreased its portfolio allocation in PTC by 2.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,503K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 3,294K shares, representing an increase of 5.98%. The firm increased its portfolio allocation in PTC by 8.90% over the last quarter.
Lone Pine Capital holds 3,168K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 2,681K shares, representing an increase of 15.35%. The firm increased its portfolio allocation in PTC by 29.79% over the last quarter.
PTC Background Information
(This description is provided by the company.)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation - on premises, in the cloud, or via its pure SaaS platform.
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This story originally appeared on Fintel.
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