Ratings for Progress Software PRGS were provided by 7 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 1 | 0 | 0 |
| Last 30D | 1 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 2 | 1 | 1 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $64.43, a high estimate of $68.00, and a low estimate of $55.00. Observing a downward trend, the current average is 0.88% lower than the prior average price target of $65.00.
Breaking Down Analyst Ratings: A Detailed Examination
In examining recent analyst actions, we gain insights into how financial experts perceive Progress Software. The following summary 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 |
| Daniel Ives | Wedbush | Maintains | Outperform | $68.00 | $68.00 |
| Daniel Ives | Wedbush | Raises | Outperform | $68.00 | $67.00 |
| 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: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Progress Software. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, 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.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Progress Software's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Progress Software analyst ratings.
All You Need to Know About Progress Software
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 Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Negative Revenue Trend: Examining Progress Software's financials over 3 months reveals challenges. As of 31 May, 2024, the company experienced a decline of approximately -1.78% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Progress Software's net margin excels beyond industry benchmarks, reaching 9.25%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Progress Software's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 3.75%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.03%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 2.03, Progress Software faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Significance of Analyst Ratings Explained
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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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