Progress Software Corp (PRGS) concluded trading on Wednesday at a closing price of $67.56, with 0.5 million shares of worth about $33.6 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.48% during that period and on November 27, 2024 the price saw a loss of about -2.99%. Currently the company’s common shares owned by public are about 43.80M shares, out of which, 42.22M shares are available for trading.
Stock saw a price change of 0.67% in past 5 days and over the past one month there was a price change of 3.73%. Year-to-date (YTD), PRGS shares are showing a performance of 24.42% which increased to 26.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $48.00 but also hit the highest price of $70.56 during that period. The average intraday trading volume for Progress Software Corp shares is 538.72K. The stock is currently trading 0.63% above its 20-day simple moving average (SMA20), while that difference is up 3.00% for SMA50 and it goes to 19.44% higher than SMA200.
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Progress Software Corp (NASDAQ: PRGS) currently have 43.80M outstanding shares and institutions hold larger chunk of about 115.64% of that.
The stock has a current market capitalization of $2.90B and its 3Y-monthly beta is at 0.93. PE ratio of stock for trailing 12 months is 36.20, while it has posted earnings per share of $1.87 in the same period. Its PEG reads 18.10 and has Quick Ratio of 1.23 while making debt-to-equity ratio of 1.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PRGS, volatility over the week remained 2.25% while standing at 1.92% over the month.
Analysts are in expectations that Progress Software Corp (PRGS) stock would likely to be making an EPS of 1.22 in the current quarter, while forecast for next quarter EPS is 1.39 and it is 5.62 for next year. For the current quarter EPS, analysts have given the company a lowest target 1.19 which is 1.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of 1.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 10.72% while it is estimated to increase by 16.69% in next year. EPS is likely to shrink at an annualized rate of 2.00% for next 5-years, compared to annual growth of 7.86% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by DA Davidson on March 28, 2024 offering a Buy rating for the stock and assigned a target price of $65 to it. Coverage by Guggenheim stated Progress Software Corp (PRGS) stock as a Buy in their note to investors on January 24, 2023, suggesting a price target of $60 for the stock. On September 09, 2022, Jefferies Initiated their recommendations, while on August 12, 2022, Guggenheim Initiated their ratings for the stock with a price target of $60. Stock get an Overweight rating from JP Morgan on October 22, 2021.
