Big changes are happening at PTC Inc. (NASDAQ:PTC), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 3.12% or (2.72 points) to $89.79 from its previous close of $87.07. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 214775 contracts so far this session. PTC shares had a relatively better volume day versus average trading capacity of 1.13 million shares, but with a 0.11 billion float and a 0.68% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PTC stock indicates that the average analyst price target is $104.4 per share. This means the stock has a potential increase of 16.27% from where the PTC share price has been trading recently which is between $84.05 and $87.53. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $80.
The shorts are climbing into PTC Inc. (PTC) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in PTC shares. While short interest still represents only 4.62% of PTC’s float, the number of shares shorted have risen by 728797. The number of shares shorted advanced to 5670561 shares, up from 4941764 shares during the preceding fortnight. With average daily trading volumes at 1678027 shares, days to cover decreased to about 5.247716 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “NFL CIO Michelle McKenna and Game of Thrones Nikolaj Coster-Waldau Round Out All-Star Lineup at LiveWorx” and dated May 15, 2019.
During the recent trading session for PTC Inc. (NASDAQ:PTC), the company witnessed their stock rise $3.4 over a week and tumble down $-6.5 from the price 20 days ago. When compared to their established 52-week high of $107.44, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/10/18. The recent low of $76.67 stood for a -16.43% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.23 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for PTC Inc., the two-week RSI stands at 49.07. This figure suggests that PTC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PTC readings is similarly very revealing as it has a stochastic reading of 39.63% at this stage. This figure means that PTC share price today is being neutral.
Technical chart claims that PTC Inc. (PTC) would settle between $88.38/share to $89.7/share level. However, if the stock price goes below the $84.9 mark, then the market for PTC Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $82.74 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.62. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wedbush lowered their recommendation on shares of PTC from Outperform to Neutral in their opinion released on April 25. JP Morgan analysts have lowered their rating of PTC Inc. (NASDAQ:PTC) stock from Neutral to Underweight in a separate flash note issued to investors on April 25. Analysts at BofA/Merrill lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to April 25.
PTC equity has an average rating of 2, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 14 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 12 analysts rated PTC Inc. (NASDAQ:PTC) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PTC stock price is currently trading at 33.84X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.88 while for the average stock in the same group, the multiple is 5.19.
PTC Inc. (PTC)’s current-quarter revenues are projected to climb by nearly 0.59% to hit $316640, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 4.63% from $1.25 billion to a noteworthy $1.31 billion. At the other end of the current quarter income statement, PTC Inc. is expected to see its adjusted earnings surge by roughly -2.78% to hit $0.35 per share. For the fiscal year, PTC’s earnings are projected to climb by roughly 22.07% to hit $1.77 per share.