Progress Software Corporation (PRGS)
NASDAQ: PRGS · IEX Real-Time Price · USD
54.84
+1.29 (2.41%)
Jul 2, 2024, 4:00 PM EDT - Market closed
Progress Software Stock Forecast
Stock Price Forecast
The 7 analysts with 12-month price forecasts for Progress Software stock have an average target of 63.14, with a low estimate of 55 and a high estimate of 67. The average target predicts an increase of 15.13% from the current stock price of 54.84.
Analyst Consensus: Buy
Analyst Ratings
The average analyst rating for PRGS stock from 7 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.
Recommendation Trends
| Rating | Jan '24 | Feb '24 | Mar '24 | Apr '24 | May '24 | Jun '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 2 | 2 | 2 | 2 | 2 | 2 |
| Buy | 3 | 3 | 3 | 3 | 3 | 3 |
| Hold | 1 | 1 | 1 | 1 | 1 | 2 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 6 | 6 | 6 | 6 | 6 | 7 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| DA Davidson | DA Davidson | Strong Buy Maintains $65 | Strong Buy | Maintains | $65 | +18.53% | Jun 26, 2024 |
| Oppenheimer | Oppenheimer | Buy Maintains $66 | Buy | Maintains | $66 | +20.35% | Jun 26, 2024 |
| Jefferies | Jefferies | Hold Maintains $60 → $55 | Hold | Maintains | $60 → $55 | +0.29% | Jun 26, 2024 |
| Guggenheim | Guggenheim | Strong Buy Reiterates $64 | Strong Buy | Reiterates | $64 | +16.70% | Jun 25, 2024 |
| DA Davidson | DA Davidson | Strong Buy Initiates $65 | Strong Buy | Initiates | $65 | +18.53% | Mar 28, 2024 |
Financial Forecast
Revenue This Year
741.03M
from 694.44M
Increased by 6.71%
Revenue Next Year
772.66M
from 741.03M
Increased by 4.27%
EPS This Year
4.79
from 1.57
Increased by 204.98%
EPS Next Year
5.11
from 4.79
Increased by 6.74%
Revenue Forecast
| Revenue | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 763.5M | 811.6M | 852.2M | 820.4M | 836.8M |
| Avg | 741.0M | 772.7M | 794.9M | 797.0M | 812.9M |
| Low | 711.0M | 720.3M | 732.1M | 765.7M | 781.1M |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 9.9% | 9.5% | 10.3% | 3.2% | 5.0% |
| Avg | 6.7% | 4.3% | 2.9% | 0.3% | 2.0% |
| Low | 2.4% | -2.8% | -5.3% | -3.7% | -2.0% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 |
|---|---|---|---|
| High | 4.96 | 5.37 | 5.71 |
| Avg | 4.79 | 5.11 | 5.45 |
| Low | 4.56 | 4.80 | 5.13 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 |
|---|---|---|---|
| High | 215.7% | 12.1% | 11.8% |
| Avg | 205.0% | 6.7% | 6.6% |
| Low | 190.3% | 0.2% | 0.4% |
Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.