In the past week, PRGS stock has gone up by 11.53%, with a monthly gain of 11.74% and a quarterly surge of 16.76%. The volatility ratio for the week is 2.08%, and the volatility levels for the last 30 days are 1.79% for Progress Software Corp. The simple moving average for the past 20 days is 11.26% for PRGS’s stock, with a 18.58% simple moving average for the past 200 days.
Is It Worth Investing in Progress Software Corp. (NASDAQ: PRGS) Right Now?
Progress Software Corp. (NASDAQ: PRGS) has a price-to-earnings ratio that is above its average at 34.39x. The stock has a 36-month beta value of 0.91. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for PRGS is 42.09M, and at present, short sellers hold a 11.32% of that float. On September 25, 2024, the average trading volume of PRGS was 395.13K shares.
PRGS) stock’s latest price update
The stock price of Progress Software Corp. (NASDAQ: PRGS) has jumped by 12.25 compared to previous close of 57.15. Despite this, the company has seen a gain of 11.53% in its stock price over the last five trading days. seekingalpha.com reported 2024-09-25 that Progress Software’s acquisition of ShareFile is a game-changer, expected to significantly boost recurring revenue and operating margins despite short-term cash flow challenges. PRGS is trading at an attractive valuation of 11x next year’s free cash flow, making $60 per share a bargain entry point. Despite competitive pressures from Microsoft and IBM, Progress Software’s diverse product portfolio and strong customer retention position it well for future growth.
Analysts’ Opinion of PRGS
Many brokerage firms have already submitted their reports for PRGS stocks, with DA Davidson repeating the rating for PRGS by listing it as a “Buy.” The predicted price for PRGS in the upcoming period, according to DA Davidson is $65 based on the research report published on March 28, 2024 of the current year 2024.
Guggenheim, on the other hand, stated in their research note that they expect to see PRGS reach a price target of $60. The rating they have provided for PRGS stocks is “Buy” according to the report published on January 24th, 2023.
Jefferies gave a rating of “Hold” to PRGS, setting the target price at $52 in the report published on September 09th of the previous year.
PRGS Trading at 12.35% from the 50-Day Moving Average
After a stumble in the market that brought PRGS to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 6.34% of gains for the given period.
Volatility was left at 1.79%, however, over the last 30 days, the volatility rate increased by 2.08%, as shares surge +10.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.30% upper at present.
During the last 5 trading sessions, PRGS rose by +11.35%, which changed the moving average for the period of 200-days by +20.64% in comparison to the 20-day moving average, which settled at $57.97. In addition, Progress Software Corp. saw 18.14% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRGS starting from JENNIFER L ORTIZ, who proposed sale 2,160 shares at the price of $56.53 back on Aug 20 ’24. After this action, JENNIFER L ORTIZ now owns shares of Progress Software Corp., valued at $122,105 using the latest closing price.
LoCoco Domenic, the Chief Accounting Officer of Progress Software Corp., sale 300 shares at $58.11 during a trade that took place back on Aug 01 ’24, which means that LoCoco Domenic is holding 3,847 shares at $17,433 based on the most recent closing price.
Stock Fundamentals for PRGS
Current profitability levels for the company are sitting at:
- 0.19 for the present operating margin
- 0.77 for the gross margin
The net margin for Progress Software Corp. stands at 0.12. The total capital return value is set at 0.1. Equity return is now at value 18.98, with 5.14 for asset returns.
Based on Progress Software Corp. (PRGS), the company’s capital structure generated 0.66 points at debt to capital in total, while cash flow to debt ratio is standing at 0.28. The debt to equity ratio resting at 1.91. The interest coverage ratio of the stock is 6.0.
Currently, EBITDA for the company is 235.48 million with net debt to EBITDA at 2.67. When we switch over and look at the enterprise to sales, we see a ratio of 4.67. The receivables turnover for the company is 4.54for trailing twelve months and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.23.
Conclusion
To sum up, Progress Software Corp. (PRGS) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
