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Why PTC Shares Soared 11% in January

TheMotleyFool

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Why PTC Shares Soared 11% in JanuaryPhoto, wide shot, wide-angle lens, Conglomerate, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/95f18fed-a4d6-4069-b489-4d050c74c618.png

Shares in industrial software company PTC (NASDAQ: PTC) rose 11% in January, according to data provided by S&P Global Market Intelligence. The move comes in response to a strong set of results and guidance from the company on Jan. 22.

Despite a weakening industrial environment, PTC raised its full-year 2020 guidance for average recurring revenue (ARR), adjusted free cash flow, revenue, and EPS in its first-quarter earnings presentation.

Image source: Getty Images.

Source Fool.com

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