Expert Outlook: Progress Software Through The Eyes Of 5 Analysts
Providing a diverse range of perspectives from bullish to bearish, 5 analysts have published ratings on Progress Software (NASDAQ:PRGS) in the last three months.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 2 | 1 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 2 | 1 | 1 | 0 | 0 |
| 2M Ago | 0 | 0 | 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 $63.6, with a high estimate of $68.00 and a low estimate of $55.00. A decline of 1.24% from the prior average price target is evident in the current average.
Exploring Analyst Ratings: An In-Depth Overview
An in-depth analysis of recent analyst actions unveils how financial experts perceive Progress Software. The following summary 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 |
|---|---|---|---|---|---|
| Daniel Ives | Wedbush | Raises | Outperform | $68.00 | $67.00 |
| Lucky Schreiner | DA Davidson | Maintains | Buy | $65.00 | $65.00 |
| Ittai Kidron | Oppenheimer | Maintains | Outperform | $66.00 | $66.00 |
| Brent Thill | Jefferies | Lowers | Hold | $55.00 | $60.00 |
| Raymond McDonough | Guggenheim | Maintains | Buy | $64.00 | $64.00 |
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: Analysts gauge the dynamics of price targets, providing estimates for the future value of Progress Software's stock. This comparison reveals trends in analysts' expectations over time.
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.
About Progress Software
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: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Progress Software's revenue growth over a period of 3 months has faced challenges. As of 31 May, 2024, the company experienced a revenue decline of approximately -1.78%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Progress Software's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 9.25% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Progress Software's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.75%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Progress Software's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.03%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Progress Software's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.03, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Analyst Ratings: What Are They?
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.