Engineering and design software provider PTC (NASDAQ:PTC) will be announcing earnings results tomorrow after market hours. Here's what to expect.
Last quarter PTC reported revenues of $542.3 million, up 17.3% year on year, beating analyst revenue expectations by 3.41%. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter and 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 10.1% year on year to $559.3 million, improving on the 5.67% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.14 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 twice over the last two years.
Looking at PTC's peers in the vertical software segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Cadence delivered top-line growth of 13.4% year on year, beating analyst estimates by 1.82%, and Agilysys (NASDAQ:AGYS) reported revenues up 22.8% year on year, exceeding estimates by 3.13%. Cadence traded down 0.92% on the results, Agilysys was up 21.7%.
Read the full analysis of Cadence's and Agilysys's results on StockStory.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022, and while some of the vertical software stocks have fared somewhat better, they have not been spared, with share price declining 8.09% over the last month. PTC is down 1.02% during the same time, and is heading into the earnings with analyst price target of $162.1, compared to share price of $139.4.
The author has no position in any of the stocks mentioned.