Progress Software Corp (NASDAQ: PRGS) stock enjoyed a major increase of 12.8% on 6/26/24. The shares closed at $54.94. Moreover, trading volume in this advance was exceptionally high at 365% of normal. The stock has risen 11.0% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
PRGS is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
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 contradictory signals. Progress Software has a slightly positive Appreciation Score of 67 but a slightly negative Power Rating of 37, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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