- Progress Software (PRGS, Financial) reports significant Q2 revenue increase of 36% due to AI integration.
- Analysts predict a potential stock price upside of over 14% with "Outperform" recommendations.
- GF Value suggests a notable 27% upside from current trading levels.
Progress Software (PRGS) has recently reported a remarkable 36% increase in Q2 revenue, reaching $237 million. This achievement is largely attributed to the strategic integration of AI capabilities into their service offerings. Furthermore, the acquisition of Nuclia for $20 million significantly enhances Progress Software's position in the AI market. Their annual recurring revenue also saw an impressive growth of 46% year-over-year, totaling a robust $838 million.
Wall Street Analysts Forecast
According to the latest insights from six Wall Street analysts, the average one-year price target for Progress Software Corp (PRGS, Financial) is projected to be $72.83. This forecast includes a high estimate of $83.00 and a low estimate of $60.00. At the current stock price of $63.84, the average target price indicates a potential upside of 14.09%. For more comprehensive estimate data, please visit the Progress Software Corp (PRGS) Forecast page.
The consensus recommendation from seven brokerage firms positions Progress Software Corp (PRGS, Financial) with an average brokerage recommendation of 1.9, categorizing the stock in the "Outperform" sector. This rating uses a scale from 1 to 5, where 1 denotes a Strong Buy and 5 signifies a Sell.
Moreover, GuruFocus estimates suggest that the GF Value for Progress Software Corp (PRGS, Financial) in the next year is projected at $81.25. Compared to the current price of $63.84, this estimate reflects a potential upside of 27.27%. The GF Value is a specialized metric representing the fair stock value based on historical trading multiples as well as anticipated business growth and performance. For further detailed insights, visit the Progress Software Corp (PRGS) Summary page.
