Progress Software Corp. [PRGS] stock prices are up 1.33% to $51.67 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PRGS shares have gain 1.19% over the last week, with a monthly amount drifted -3.85%, and not seem to be holding up well over a long-time horizon.
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On 10, April 2024, Progress Announces Advanced AI Capabilities to Accelerate Delivery of Digital Experiences. In a post published today on Yahoo Finance, New release offers AI-based conversion optimization, AI-assisted content classification and upgrades for faster performance in modern digital experiences.
From an analyst’s perspective:
Progress Software Corp. [NASDAQ: PRGS] stock has seen the most recent analyst activity on March 28, 2024, when DA Davidson initiated its Buy rating and assigned the stock a price target of $65. On September 09, 2022, Jefferies initiated with a Hold rating and assigned a price target of $52 on the stock. Guggenheim started tracking the stock assigning a Buy rating and suggested a price target of $60 on August 12, 2022. JP Morgan initiated its recommendation with a Overweight and recommended $60 as its price target on October 22, 2021. Citigroup started tracking with a Neutral rating for this stock on August 06, 2021, and assigned it a price target of $48. In a note dated July 15, 2021, Oppenheimer initiated an Outperform rating and provided a target price of $54 on this stock.
The stock price of Progress Software Corp. [PRGS] has been fluctuating between $49.02 and $62.34 over the past year. Currently, Wall Street analysts expect the stock to reach $61.75 within the next 12 months. Progress Software Corp. [NASDAQ: PRGS] shares were valued at $51.67 at the most recent close of the market. An investor can expect a potential return of 19.51% based on the average PRGS price forecast.
Analyzing the PRGS fundamentals
The Progress Software Corp. [NASDAQ:PRGS] reported sales of 714.90M for trailing twelve months, representing a surge of 12.46%. Gross Profit Margin for this corporation currently stands at 0.79% with Operating Profit Margin at 0.18%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.1%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.15 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.52.
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 50.97 points at the first support level, and at 50.27 for the second support level. However, for the 1st resistance point, the stock is sitting at 52.25, and for the 2nd resistance point, it is at 52.83.
Progress Software Corp. [PRGS] reported earnings per share of $1.25 for its fiscal quarter that ended on 2/28/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.14/share, meaning a difference of $0.11 and a surprise factor of 9.60%. By comparison, the stated earnings for the previous quarter ended on 11/29/2023 were $1.02 per share as compared to estimates of $0.91 per share, a difference of $0.11 representing a surprise of 12.10%.
Ratios To Look Out For
It’s worth pointing out that Progress Software Corp. [NASDAQ:PRGS]’s Current Ratio is 0.95. In addition, the Quick Ratio stands at 0.95 and the Cash Ratio stands at 0.41. Considering the valuation of this stock, the price to sales ratio is 3.12, the price to book ratio is 4.89 and price to earnings (TTM) ratio is 33.47.
Transactions by insiders
Recent insider trading involved Pitt Ian, Chief Information Officer, that happened on Apr 02 ’24 when 1283.0 shares were sold. Chief Executive Officer, Gupta Yogesh K completed a deal on Apr 01 ’24 to sell 50808.0 shares. Meanwhile, EVP/GM Infrastructure Mgmt Subramanian Sundar sold 5799.0 shares on Mar 01 ’24.
