Progress Software shares are trading higher after the company reported better-than-expected Q2 financial results and issued Q3 and FY23 guidance above estimates. Also, Oppenheimer raised its price target from $63 to $66.
Portfolio Pulse from Benzinga Newsdesk
Progress Software reported better-than-expected Q2 financial results and issued Q3 and FY23 guidance above estimates. Oppenheimer raised its price target for the company from $63 to $66.
June 30, 2023 | 2:29 pm
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POSITIVE IMPACT
Progress Software's better-than-expected Q2 results and raised guidance for Q3 and FY23, along with Oppenheimer's increased price target, are positive indicators for the company's stock.
Progress Software's strong Q2 results and raised guidance for future quarters indicate a positive financial outlook for the company. This, coupled with Oppenheimer's increased price target, suggests a potential upward movement for the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100