PTC Will Profit From ServiceMax Acquisition, Analyst Predicts
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Daniel Jester initiated coverage on PTC Inc (NASDAQ:PTC) with an Outperform rating and a price target of $166. Jester is bullish on PTC's acquisition of ServiceMax, expecting it to be accretive to PTC's SaaS ARR and cash flow in 2023. He estimates revenues of $2.12 billion and adjusted EPS of $4.44 in FY23, and revenues of $2.38 billion and adjusted EPS of $5.30 in FY24.
May 24, 2023 | 5:54 pm
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BMO analyst Daniel Jester is bullish on PTC's acquisition of ServiceMax, expecting it to boost PTC's SaaS ARR and cash flow in 2023. He initiated coverage with an Outperform rating and a $166 price target.
The analyst's bullish stance on PTC's acquisition of ServiceMax, along with the Outperform rating and a price target of $166, indicates a positive outlook for the company's stock price. The expected increase in SaaS ARR and cash flow in 2023, as well as the projected revenue and EPS growth, suggest that the acquisition will have a positive impact on PTC's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100