How have Progress Software Corporation (PRGS)’s performance and profitability changed over the time?

Currently, Progress Software Corporation [PRGS] is trading at $56.92, up 3.74%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PRGS shares have gain 7.80% over the last week, with a monthly amount glided 11.67%, and seem to be holding up well over a long-time horizon.

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On 31, January 2023, Progress Named a Leader in Network Detection and Response by Quadrant Knowledge Solutions. In a post published today on Yahoo Finance, Award-winning Flowmon Anomaly Detection System (ADS) distinguished for its “complete detection and mitigation of cyber threats”.

From an analyst’s perspective:

Previously, Jefferies started tracking the stock with Hold rating on September 09, 2022, and set its price target to $52. On August 12, 2022, Guggenheim initiated with a Buy rating and assigned a price target of $60 on the stock. JP Morgan started tracking the stock assigning a Overweight rating and suggested a price target of $60 on October 22, 2021. Citigroup initiated its recommendation with a Neutral and recommended $48 as its price target on August 06, 2021. Oppenheimer started tracking with a Outperform rating for this stock on July 15, 2021, and assigned it a price target of $54. In a note dated June 08, 2021, Guggenheim initiated an Buy rating and iterated a target price of $56 on this stock.

This stock has fluctuated between a low of $40.33 and a high of $55.05 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $58.50 within the next 12 months. Progress Software Corporation [NASDAQ: PRGS] shares were valued at $56.92 at the most recent close of the market. An investor can expect a potential return of 2.78% based on the average PRGS price forecast.

Analyzing the PRGS fundamentals

Recent quarter sales for Progress Software Corporation [NASDAQ:PRGS] were 157.13 billion which represents 2.60% growth. Gross Margin for this corporation currently stands at +76.52% with Operating Margin at +21.17%, Pretax Margin comes in at +19.48%, and Net Margin reading is +15.79%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 55.54 points at the first support level, and at 54.16 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.65, and for the 2nd resistance point, it is at 58.38.

Progress Software Corporation [PRGS] reported earnings per share of $1 for its fiscal quarter that ended on 8/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.97/share, meaning a difference of $0.03 and a surprise factor of 3.10%. By comparison, the stated earnings for the previous quarter ended on 5/30/2022 were $1.04 per share as compared to estimates of $0.95 per share, a difference of $0.09 representing a surprise of 9.50%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Progress Software Corporation [NASDAQ:PRGS] is 1.30. Considering the valuation of this stock, the price to sales ratio is 3.92 and the P/E (TTM) ratio is 26.49.

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 3 insider buyings of 1,896 shares and 12 insider sellings of 37,008 shares. Recent insider trading involved Kulikoski Kathryn, Chief People Officer, that happened on Jan 30 when 425.0 shares were sold. Chief Executive Officer, Gupta Yogesh K completed a deal on Jan 17 to sell 10000.0 shares. Meanwhile, EVP/GM DevOps Subramanian Sundar sold 100.0 shares on Jan 11.