Guggenheim analyst Kenneth Wong maintained a Buy rating on Progress Software (NASDAQ:PRGS) Corp. on Thursday, setting a price target of $56, which is approximately 21.58% above the present share price of $46.06.
Wong expects Progress Software Corp. to post earnings per share (EPS) of $0.43 for the second quarter of 2021.
The current consensus among 2 TipRanks analysts is for a Moderate Buy rating of shares in Progress Software, with an average price target of $57.
The analysts price targets range from a high of $58 to a low of $56.
In its latest earnings report, released on 02/28/2021, the company reported a quarterly revenue of $121.28 million and a net profit of $28.97 million. The company's market cap is $2.03 billion.
According to TipRanks.com, Guggenheim analyst Kenneth Wong is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 29.3% and a 74.70% success rate.
Progress Software Corp. engages in the provision of a platform, which develops and deploy mission-critical business applications. It operates through the following business segments: OpenEdge Business; Data Connectivity and Integration; and Application Development and Deployment. The OpenEdge Business segment provides product enhancements and marketing supports for the partners to sell more of its existing solutions to their customers. The Data Connectivity and Integration segment focuses on the growth of the data assets of the company, including its data integration components of the cloud offering. The Application Development and Deployment segment generates net new customers for the application development assets of the company. The company was founded by Joseph Wright Alsop, Clyde Kessel and Charles Arthur Ziering in 1981 and is headquartered in Bedford, MA.