NASDAQ: PRGS Earns A “Buy” Rating From Stock Market Analysts


Progress Software Corp (NASDAQ: PRGS) received an average of “buy” rating from seven stock market rating analysts. Out of the seven, two issued a “sell” rating, three issued a “buy” rating, and one recommended a “strong buy” rating. The company’s 12 months target price stands at $45.75. 

How Did The Stock Market React To NASDAQ: PRGS Buy Rating

Several stock market analysts have reacted to NASDAQ: PRGS Buy Rating. BidaskClub updated its NASDAQ: PRGS status to a rating of “strong sell” from a rating of “sell” on 23rd September during the Wednesday report. On the other hand, ValuEngine lowered its status to a “sell” rating from a rating of “hold” on 3rd August during a Monday report. Wedbush gave Progress Software Corp a rating of “outperform”. It also issued a price target of $45.00 on 26th August during a Wednesday report. 

Zack Investment Research updated its NASDAQ: PRGS status to a rating of “strong bu from a rating of “hold.” It also set a price target of $42.00 on 11th September during a Friday report. Last but not the least, Benchmark increased its price target to $43.00 from $39.00. They also issued NASDAQ: PRGS a rating of “buy” on 26th June during a Friday report. 

On Friday, Progress Software Corp started with $39.51. The company’s one year low stands at $28.09. Its one year high stands at $52.50. Moreover, the company’s 50 day stock average moving price is $36.64 and the 200 day stock average moving price is $36.88. The firm’s current ratio, quick ratio, debt-to-equity ratio stands at 1.29, 1.29, and 0.81 respectively. The company’s market capitalization stands at $1.77 billion. It’s PE ratio and bet stands at 38.74 and 1.03 respectively. 

Where Does Progress Software Corp Stock Market Earnings Stand?

NASDAQ: PRGS last announced its earnings on4th October during a Sunday report. Progress Software Corp reported that its quarter earning is $0.78 per share. The stock market analysts had predicted that the estimate would be $0.77. 

The company’s net margin and return on return on equity was reported to be 10.81 percent and 34.66 percent respectively. The stock market analysts had also predicted that the company will have a revenue of $107.17 million. However, NASDAQ: PRGS surpassed the prediction and earned $110.88 million during the quarter. 

Last year, the company stood at $0.75 per share. Its third quarter revenue was also down by 4.0 percent. 

The stock market analysts further predict that NASDAQ: PRGS will bring in 2.54 per share for this FY. 

Progress Software Corp also announced that it will pay a $0.75 EPS dividend to its stockholders.