
Progress Software (PRGS) Stock Forecast & Price Target
Progress Software (PRGS) Analyst Ratings
Bulls say
Progress Software is expected to see a positive impact from its recent asset purchase of Domo, with favorable deal economics and cost synergies expected. The company's data platform is gaining momentum, and it is well-positioned to capture the growing demand for AI-powered solutions as well as the rising interest in open source models. Its total growth strategy, which focuses on product innovation, disciplined M&A, and customer retention, is expected to drive further value for shareholders. We maintain a buy rating on the stock with a price target of $55, based on its strong execution, solid financials, and potential for share repurchases and further M&A.
Bears say
Progress Software is facing challenges with its inconsistent Software License revenue, which can be volatile due to the financial profile of previous acquisitions. Additionally, its F2Q maintenance, SaaS, and professional services revenue were below consensus, indicating potential challenges in these areas. Although the company's acquisition of Domo is viewed favorably, there is still uncertainty surrounding its overall strategic positioning and future performance. These factors, combined with declining revenue and challenges in key areas, lead to a negative outlook on the stock.
This aggregate rating is based on analysts' research of Progress Software and is not a guaranteed prediction by Public.com or investment advice.
Progress Software (PRGS) Analyst Forecast & Price Prediction
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