PTC (PTC) : Traders are bullish on PTC (PTC) as it has outperformed the S&P 500 by a wide margin of 3.87% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.52%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.49% in the last 1 week, and is up 4.27% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
PTC Inc. is up 18.56% in the last 3-month period. Year-to-Date the stock performance stands at 22.09%. The stock has recorded a 20-day Moving Average of 3.7% and the 50-Day Moving Average is 8.05%.
PTC (NASDAQ:PTC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.63 and $41.41 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.28, notching a gain of 1.49% for the day. The total traded volume was 721,602 . The stock had closed at $41.66 on the previous day.
Also, Citigroup initiates coverage on PTC (NASDAQ:PTC) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $48 per share. The rating by the firm was issued on August 1, 2016.
PTC Inc., develops and delivers technology solutions, comprised of software and services, that transform the way customers create and service their products The Company operates in two Software Products, which includes license and related support revenue for all its products except training-related products, and Services, which includes consulting, implementation, training and license and support revenue for computer-based training products. The Companys solutions and software products include Computer-Aided Design (CAD), Product Lifecycle Management (PLM), Application Lifecycle Management (ALM), Supply Chain Management (SCM) and Service Lifecycle Management (SLM). The Company generates revenue through the sale of software licenses, support and services.