| PTC |
Report |
Net new ARR (constant-currency, ex-divested) |
BEAT |
pred ~$52M net new ARR (ARR ~$2.44B, +8.9% cc) vs. cons ~$48M (+8.5%) |
MEDIUM |
| PTC |
Report |
Free cash flow (Q3'26) |
BEAT |
pred ~$252M vs. cons ~$243M |
MEDIUM |
| PTC |
Report |
Non-GAAP EPS (Q3'26) |
BEAT |
pred ~$1.68 vs. cons ~$1.60 |
LOW |
| PTC |
Guide |
FY26 constant-currency net new ARR |
UNCHANGED |
guide ~$195M net new / 7.5-9.5% cc reaffirmed vs. cons ~$195M (FY26) |
MEDIUM |
| PTC |
Guide |
FY26 free cash flow |
UNCHANGED |
guide ~$850M (~$950M clean baseline) vs. cons ~$850M (FY26) |
MEDIUM |
| PTC |
Guide |
Q4'26 net new ARR step-up / deferred-ARR confidence (implied) |
BETTER |
guide implies ~$75M+ Q4 net new vs. cons ~$72M (Q4'26); mgmt reiterates de-risked, deferred-ARR-backed hockey stick |
LOW |
| PTC |
Return |
Day-1 residual (stock − beta × S&P 500) |
+4.0% |
— |
MEDIUM |
| PTC |
Return |
5-day cumulative residual |
+3.0% (STABILIZE) |
Washed-out sentiment (-25% YTD, June/July air-pockets) and a low bar set up an outsized relief pop if Q3 net new ARR grows YoY (de-risked) and FCF/EPS beat, mirroring the +8% Q2 reaction. But this is a credibility check, not the acceleration quarter: the FY26 ARR guide is likely reaffirmed rather than raised, so the out-period (Q4) still carries the big step-up and forward ARR/EPS estimates don't move materially higher. That caps follow-through — the initial gain holds/stabilizes rather than compounds, with aggressive ~$250M/qtr buybacks cushioning downside; a fade risk remains if any wobble in Q4 confidence or the 'flat ex-deferred' underlying reignites skepticism. |
LOW |