Progress Software Corp. Reaches New 12-Month High at $27.47 (PRGS)
Progress Software Corp. (NASDAQ:PRGS)’s share price reached a new 52-week high during trading on Thursday, AnalystRatingsNetwork.com reports. The stock traded as high as $27.47 and last traded at $25.57, with a volume of 220,923 shares traded. The stock had previously closed at $25.44.
A number of analysts have recently weighed in on PRGS shares. Analysts at JMP Securities downgraded shares of Progress Software Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, December 12th. They now have a $28.00 price target on the stock. Analysts at Zacks upgraded shares of Progress Software Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, November 22nd. They now have a $28.70 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.14.
Progress Software Corp. has a 1-year low of $20.41 and a 1-year high of $26.95. The stock has a 50-day moving average of $25.68 and a 200-day moving average of $25.37. The company has a market cap of $1.325 billion and a price-to-earnings ratio of 15.42.
Progress Software Corp. (NASDAQ:PRGS) last announced its earnings results on Thursday, January 2nd. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $90.84 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that Progress Software Corp. will post $1.17 earnings per share for the current fiscal year.
Progress Software Corporation is a global software company. The Company’s portfolio of products provides solutions for enterprise integration, data interoperability and application development, including software-as-a-service (NASDAQ:PRGS) enablement and delivery in the Cloud.
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