PTC

PTC · NASDAQ

$193.35+$0.29 (+0.15%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $193.06

PTC analyst rating

HoldConsensus of 13 analysts over the last 12 months. 8% rate it a buy.

Strong buy0
Buy1
Hold12
Underperform0
Sell0

12-month price target · 22 analysts

Average $180.17 (−6.8% downside)

Low: $141.40
Now: $193.35
High: $241.50

Upgrades and downgrades

The latest rating actions, newest first

PTC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 6, 2026	Maintains	Neutral	$141.00 → $205.00	56%
Oppenheimer	Oct 6, 2026	Downgrade	Outperform → Perform	—	57%
Mizuho	Oct 6, 2026	Maintains	Neutral	$160.00 → $205.00	51%
BMO Capital	Oct 6, 2026	Downgrade	Outperform → Market Perform	$164.00 → $205.00	51%
Rosenblatt	Oct 5, 2026	Downgrade	Buy → Neutral	$190.00 → $205.00	61%
Barclays	Oct 5, 2026	Downgrade	Overweight → Equal-Weight	$155.00 → $205.00	66%
JP Morgan	Oct 5, 2026	Upgrade	Underweight → Neutral	$145.00 → $205.00	63%
RBC Capital	Oct 5, 2026	Downgrade	Outperform → Sector Perform	$195.00 → $306.00	61%
Keybanc	Oct 5, 2026	Downgrade	Overweight → Sector Weight	—	53%
Loop Capital	Oct 5, 2026	Downgrade	Buy → Hold	$200.00 → $205.00	58%

The case for and against

Updated Oct 14, 2026

Bull case

PTC is well positioned to benefit from durable demand in PLM and CAD, where it continues to post above-market growth and preserve a leadership position. Its completed transition to a subscription model supports a highly recurring revenue base, faster revenue growth, and expanding operating margins, while digitization trends in PLM could further accelerate ARR growth. Management’s focus on balancing growth and profitability, along with success in ALM and SLM through new logos and cross-sell opportunities, underpins margin expansion and free cash flow growth above ARR growth.

Bear case

PTC is facing a negative setup because the stock’s trading dynamics are now dominated by the pending Schneider Electric acquisition, leaving upside constrained while any regulatory or unforeseen hurdles could widen the discount to the cash offer. The deal terms imply a $23.7B enterprise value at 23x FY27 EV/FCF, which suggests the market is already assigning a rich valuation and limiting standalone re-rating potential. More broadly, the company remains exposed to macro weakness, foreign currency swings, emerging-market slowdown, intensifying competition in CAD and PLM, and execution risk in cloud/SaaS and cross-selling, all of which could pressure fundamentals if the transaction fails to close by 3Q27.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.