Engineering and design software provider PTC (NASDAQ:PTC) will be reporting results tomorrow after market hours. Here’s what to expect.
PTC beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $565.1 million, up 2.7% year on year. It was a softer quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is PTC a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting PTC’s revenue to be flat year on year at $606 million, slowing from the 11.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PTC has missed Wall Street’s revenue estimates three times over the last two years.
Looking at PTC’s peers in the vertical software segment, only Cadence has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 23.1%.
Read our full analysis of Cadence’s earnings results here.Investors in the vertical software segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. PTC is up 1.1% during the same time and is heading into earnings with an average analyst price target of $189.87 (compared to the current share price of $156.69).
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