Stock Track | PTC Inc Soars 5.29% in Pre-market on Strong Earnings Beat and Barclays Price Target Hike

Stock Track

May 07

PTC Inc's stock surged 5.29% during pre-market trading on Thursday, extending gains from the previous session.

The industrial software firm reported second-quarter fiscal 2026 results that significantly exceeded analyst expectations, with revenue beating estimates by 8.63% and earnings per share surpassing forecasts by 33.83%. The company demonstrated robust growth, with constant-currency annual recurring revenue increasing 8.5% and operating cash flow rising 14% to $321 million. CEO Neil Barua highlighted accelerating enterprise AI demand as customers modernize their product data foundations on PTC's systems.

Adding to the positive sentiment, Barclays raised its price target on PTC to $185 from $180, reflecting increased analyst confidence in the company's outlook following the strong quarterly performance and the announcement of a new $2 billion share repurchase program extending through September 2028.

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