6 analysts have expressed a variety of opinions on Progress Software PRGS over the past quarter, offering a diverse set of opinions 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 | 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 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $70.5, with a high estimate of $80.00 and a low estimate of $65.00. Marking an increase of 6.29%, the current average surpasses the previous average price target of $66.33.
Breaking Down Analyst Ratings: A Detailed Examination
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 |
|---|---|---|---|---|---|
| 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: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Progress Software. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Progress Software compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Progress Software's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
For valuable insights into Progress Software's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using 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.
Understanding the Numbers: Progress Software's Finances
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Progress Software displayed positive results in 3 months. As of 31 August, 2024, the company achieved a solid revenue growth rate of approximately 2.11%. This indicates a notable increase in the company's 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 is impressive, surpassing industry averages. With a net margin of 15.93%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Progress Software's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 6.88%, 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 1.78%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progress Software's debt-to-equity ratio stands notably higher than the industry average, reaching 1.91. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
How Are Analyst Ratings Determined?
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 enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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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