Engineering and design software provider PTC (NASDAQ:PTC) will be reporting results tomorrow afternoon. Here's what to expect.
Last quarter PTC reported revenues of $465.9 million, up 1.79% year on year, in line with analyst expectations. It was a weaker quarter for the company, with slow revenue growth and a decline in gross margin.
Is PTC buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting PTC's revenue to grow 6.73% year on year to $539.2 million, slowing down from the 9.41% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.15 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at PTC's peers in the vertical software segment, some of them have already reported Q2 earnings results, giving us a hint what we can expect. Cadence delivered top-line growth of 13.3% year on year, beating analyst estimates by 1.49%. Cadence was down 1.9^% on the results. Read our full analysis of Cadence's results here.
Investors in the vertical software segment have had steady hands going into the earnings, with the stocks up on average 0.36% over the last month. PTC is up 2.37% during the same time, and is heading into the earnings with analyst price target of $152, compared to share price of $126.09.
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The author has no position in any of the stocks mentioned.