NASDAQ:PRGSProgress Software Stock Price, Forecast & News

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, PRGS stock has decreased by 0.5% and is now trading at $32.43. View which stocks have been mosted impacted by Coronavirus.

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Progress Software.

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, June 25th 2020. View our earnings forecast for Progress Software.

Progress Software Corp (NASDAQ:PRGS) announced its earnings results on Thursday, March, 26th. The software maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The software maker had revenue of $113.76 million for the quarter, compared to analyst estimates of $105.20 million. Progress Software had a net margin of 8.79% and a return on equity of 35.31%. The business's revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Tuesday, March 31st. Stockholders of record on Monday, June 1st will be given a dividend of $0.165 per share on Monday, June 15th. This represents a $0.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, May 29th. View Progress Software's dividend history.

Progress Software announced that its board has approved a share buyback plan on Thursday, January 16th 2020, which authorizes the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Progress Software updated its FY20 earnings guidance on Thursday, March, 26th. The company provided earnings per share guidance of $2.73-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.84. The company issued revenue guidance of $428-438 million, compared to the consensus revenue estimate of $439.13 million.

4 brokerages have issued 12-month target prices for Progress Software's stock. Their forecasts range from $42.00 to $57.00. On average, they expect Progress Software's stock price to reach $50.50 in the next twelve months. This suggests a possible upside of 55.7% from the stock's current price. View analysts' price targets for Progress Software.

Media stories about PRGS stock have been trending very negative recently, according to InfoTrie Sentiment. InfoTrie identifies positive and negative media coverage by reviewing more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Progress Software earned a coverage optimism score of -3.3 on InfoTrie's scale. They also gave news headlines about the software maker a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the next several days. View the latest news aboutProgress Software.

Progress Software saw a increase in short interest during the month of March. As of March 13th, there was short interest totaling 953,800 shares, an increase of 69.0% from the February 27th total of 564,400 shares. Based on an average daily volume of 357,400 shares, the days-to-cover ratio is presently 2.7 days. Approximately 2.1% of the shares of the company are short sold. View Progress Software's Current Options Chain.

Some companies that are related to Progress Software include Microsoft (MSFT), Oracle (ORCL), VMware (VMW), ServiceNow (NOW), Fortinet (FTNT), Symantec (SYMC), Proofpoint (PFPT), Qualys (QLYS), CommVault Systems (CVLT), TiVo (TIVO) and FalconStor Software (FALC).

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Advanced Micro Devices (AMD), Intel (INTC), Micron Technology (MU), Crispr Therapeutics (CRSP), Alibaba Group (BABA), Cisco Systems (CSCO), NVIDIA (NVDA), Pfizer (PFE) and Cypress Semiconductor (CY).

Progress Software trades on the NASDAQ under the ticker symbol "PRGS."

Shares of PRGS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of PRGS stock can currently be purchased for approximately $32.43.

Progress Software has a market capitalization of $1.45 billion and generates $413.30 million in revenue each year. The software maker earns $26.40 million in net income (profit) each year or $2.29 on an earnings per share basis. Progress Software employs 1,538 workers across the globe. View additional information about Progress Software.

The official website for Progress Software is http://www.progress.com/.

Progress Software's mailing address is 14 OAK PARK DRIVE, BEDFORD MA, 01730. The software maker can be reached via phone at 781-280-4000 or via email at [email protected]