Decoding 4 Analyst Evaluations For Progress Software
Portfolio Pulse from Benzinga Insights
In the last three months, 4 analysts have updated their ratings on Progress Software (NASDAQ:PRGS), showing a shift towards a more bullish outlook. The average 12-month price target is now $65.25, slightly down by 0.12%. Analysts from DA Davidson, JP Morgan, Oppenheimer, and Wedbush have provided updates, with actions ranging from maintaining to raising price targets. Progress Software, a provider of cloud-based security solutions, has shown impressive revenue growth of 12.63% as of November 30, 2023, but lags behind industry peers. Its net margin and ROA outperform industry averages, while its ROE and market capitalization are below benchmarks.
March 28, 2024 | 12:01 pm
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Progress Software has received updated bullish ratings from analysts, with a minor adjustment in the average price target. The company's strong revenue growth and performance indicators like net margin and ROA are highlighted, despite some challenges in market capitalization and ROE.
The shift towards a more bullish outlook by analysts, combined with strong revenue growth and performance indicators, suggests a positive short-term impact on PRGS's stock price. However, concerns about market capitalization and ROE may temper gains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100