Progress Software Corp (NASDAQ: PRGS) has reported earnings for its first fiscal quarter (ending February 28) of $0.52 versus $0.55 for the same period a year ago. For the latest four quarters through February 28, E.P.S. were $1.59 versus $2.27 for the same period a year ago.
Recent Price Action
Progress Software Corp (NASDAQ: PRGS) stock closed at $52.65 on 3/26/24 after a slight decline of -0.2%. Moreover, trading volume in this decline was exceptionally high at 243% of normal. The stock is unchanged during the last week and has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PRGS is expected to continue to be a major Value Builder.
Progress Software has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Progress Software has a slightly positive Appreciation Score of 64 and a neutral Power Rating of 44, producing the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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