Progress Software Corp (NASDAQ: PRGS) has recently enjoyed extremely meaningful positive changes in investment behavior: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Progress Software has a slightly positive Appreciation Score of 63 but a slightly negative Power Rating of 37, and the Neutral Value Trend Rating results.
Recent Price Action
Progress Software Corp (NASDAQ: PRGS) stock rose slightly by 0.04% on 6/28/24. The stock closed at $54.26. Moreover, trading volume in this advance was exceptionally high at 214% of normal. The stock has been weak relative to the market over the last nine months but has risen 12.6% during the last week.
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