PTC Inc

PTC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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PTC Earnings: Decent First Quarter Amid a Tough Macroeconomic Backdrop

Eric Compton ,

Feb 6, 2025

Narrow-moat-rated PTC reported first-quarter results that broadly aligned with our expectations and management’s guidance. However, a sluggish sales environment is expected to marginally dampen sales growth, and the full-year revenue outlook was decreased slightly. We still think spending could pick up as 2025 progresses, and we foresee PTC’s go-to-market efforts coupled with rising demand in its software-as-a-service offerings ultimately bring in higher close rates that and a pick-up in sales in 2025. Therefore, we are maintaining our fair value estimate of $179 per share and currently view the stock as fairly valued.

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PTC Inc

PTC Earnings: Decent First Quarter Amid a Tough Macroeconomic Backdrop

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