Ratings for Progress Software PRGS were provided by 6 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
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 | 3 | 3 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 2 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $70.5, a high estimate of $80.00, and a low estimate of $65.00. Witnessing a positive shift, the current average has risen by 6.29% from the previous average price target of $66.33.
Investigating Analyst Ratings: An Elaborate Study
The analysis of recent analyst actions sheds light on the perception of Progress Software by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Ittai Kidron | Oppenheimer | Raises | Outperform | $80.00 | $70.00 |
| Raymond McDonough | Guggenheim | Raises | Buy | $70.00 | $64.00 |
| Lucky Schreiner | DA Davidson | Raises | Buy | $70.00 | $65.00 |
| Ittai Kidron | Oppenheimer | Raises | Outperform | $70.00 | $66.00 |
| Lucky Schreiner | DA Davidson | Maintains | Buy | $65.00 | $65.00 |
| Daniel Ives | Wedbush | Maintains | Outperform | $68.00 | $68.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Progress Software. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progress Software compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Progress Software's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
To gain a panoramic view of Progress Software's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Progress Software analyst ratings.
Get to Know Progress Software Better
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.
A Deep Dive into Progress Software's Financials
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Progress Software's revenue growth over a period of 3 months has been noteworthy. As of 31 August, 2024, the company achieved a revenue growth rate of approximately 2.11%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Progress Software's net margin excels beyond industry benchmarks, reaching 15.93%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Progress Software's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 6.88%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Progress Software's ROA stands out, surpassing industry averages. With an impressive ROA of 1.78%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progress Software's debt-to-equity ratio surpasses industry norms, standing at 1.91. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
The Basics of Analyst Ratings
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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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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