Across the recent three months, 4 analysts have shared their insights on Progress Software PRGS, expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 1 | 1 | 0 | 0 |
| Last 30D | 1 | 1 | 1 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $62.5, with a high estimate of $66.00 and a low estimate of $55.00. Experiencing a 1.96% decline, the current average is now lower than the previous average price target of $63.75.
Understanding Analyst Ratings: A Comprehensive Breakdown
The standing of Progress Software among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Lucky Schreiner | DA Davidson | Maintains | Buy | $65.00 | $65.00 |
| Ittai Kidron | Oppenheimer | Maintains | Outperform | $66.00 | $66.00 |
| Brent Thill | Jefferies | Lowers | Hold | $55.00 | $60.00 |
| Raymond McDonough | Guggenheim | Maintains | Buy | $64.00 | $64.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progress Software. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progress Software compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Progress Software's stock. This analysis reveals shifts in analysts' expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Progress Software's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on Progress Software analyst ratings.
Discovering Progress Software: A Closer Look
Progress Software Corporation is a provider of cloud-based security solutions to large-and mid-sized organizations in a wide range of industries. Its product includes OpenEdge; Chef; Developer Tools; Kemp LoadMaster; MOVEit; DataDirect; WhatsUp Gold; Sitefinity; Flowmon and Corticon. The company derives revenue from perpetual licenses to its products, but some products also use term licensing models. Its cloud-based offerings use a subscription-based model. A majority of the firm's revenue is generated in the United States and it also has presence in Canada, the Middle East, and Africa (EMEA), Latin America, and Asia Pacific.
Progress Software: A Financial Overview
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Positive Revenue Trend: Examining Progress Software's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 12.46% as of 29 February, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Progress Software's net margin excels beyond industry benchmarks, reaching 12.26%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Progress Software's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 4.91%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Progress Software's ROA stands out, surpassing industry averages. With an impressive ROA of 1.44%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progress Software's debt-to-equity ratio is below the industry average at 1.54, reflecting a lower dependency on debt financing and a more conservative financial approach.
Analyst Ratings: What Are They?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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