Parametric (NASDAQ: PMTC)‘s stock had its “neutral” rating reiterated by investment analysts at Goldman Sachs (NYSE: GS) in a note issued to investors on Tuesday. They currently have a $22.00 target price on the stock.
The analysts wrote, “[W]e have lowered our FY12 estimates to account for an incremental currency headwind versus guidance as well as a deteriorating macro environment. Our June quarter revenue and EPS estimates now stand at $306mn, $0.29 (prior: $309mn, $0.30; guidance: $300-$315mn, $0.28-$0.32), and FY12 is now at $1.26 bn, $1.43 (prior: $1.28bn, $1.46; guidance: $1.265-1.285bn, $1.42-1.50). We think management’s June quarter and FY2012 guidance embedded a degree of conservatism, which our analysis suggests could be about $16mn for FY2012 license revenue. With that said, however, we view our updated license estimates as reflecting seasonal trends more consistent with the macro environment. We lower FY13-FY14 estimates on flow-through.”
Parametric opened at 18.95 on Tuesday. Parametric has a 1-year low of $14.25 and a 1-year high of $28.95. The company has a market cap of $2.263 billion and a price-to-earnings ratio of 29.15.
Parametric last released its earnings data on Wednesday, April 25th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.03. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Parametric will post $0.50 EPS next quarter.
PMTC has been the subject of a number of other recent research reports. Analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Parametric from $30.00 to $27.00 in a research note to investors on Monday, April 9th. They now have an “overweight” rating on the stock. Separately, analysts at ThinkEquity cut their price target on shares of Parametric to $31.00 in a research note to investors on Monday, April 9th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of Parametric from a “buy” rating to a “hold” rating in a research note to investors on Monday, April 9th. They now have a $24.00 price target on the stock, down previously from $30.00.
Parametric Technology Corporation (PTC) develops, markets and supports product lifecycle management software solutions and related services that help companies design products, manage product information and improve their product development processes.