DA Davidson has maintained its "Buy" rating on Progress Software (PRGS, Financial). Analyst Lucky Schreiner reaffirmed the positive outlook on the stock, reflecting continued confidence in the company's performance and growth potential in the software industry.
In a recent update, DA Davidson has raised the price target for Progress Software (PRGS, Financial) from $70.00 to $75.00, marking a 7.14% increase. This adjustment indicates an optimistic view of Progress Software's ability to appreciate in value, supported by its strategic initiatives and market positioning.
Progress Software (PRGS, Financial), which trades on the NASDAQ, continues to benefit from its solid performance metrics and innovative software solutions. Analysts like Schreiner are positive about the company's future potential and profitability, making it a favorable choice for investors seeking growth within the technology sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Progress Software Corp (PRGS, Financial) is $72.83 with a high estimate of $83.00 and a low estimate of $60.00. The average target implies an upside of 29.10% from the current price of $56.42. More detailed estimate data can be found on the Progress Software Corp (PRGS) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Progress Software Corp's (PRGS, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Progress Software Corp (PRGS, Financial) in one year is $81.42, suggesting a upside of 44.32% from the current price of $56.415. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Progress Software Corp (PRGS) Summary page.
