PRGS Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Progress Software Corp (PRGS) is currently showing signs of being oversold, with an RSI of 15.9, indicating a potential rebound. The stock price is trading near its Fibonacci pivot level of $55.33, suggesting a possible short-term upside.
News Sentiment and Analyst Ratings:
Recent news indicates that PRGS issued first-quarter EPS guidance below estimates, causing a stock decline. However, Oppenheimer maintains a Buy rating with a price target of $80, suggesting a 35.5% upside.
Price Prediction:
Based on the oversold condition and Fibonacci levels, PRGS is expected to rebound next week. The target price is $56.50.
Recommendation:
Buy PRGS as the stock is oversold and likely to rebound.
PRGS Similar Chart Price Prediction
The price of PRGS is predicted to go up -0.44%, based on the high correlation periods with TEN. The similarity of these two price pattern on the periods is 92.93%.
PRGS
TEN
Down: -0.44%Similarity: 92.93%
PRGS Revenue Forecast
PRGS EPS Forecast
PRGS FAQs
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PRGS Analyst's Forecast
Fatima Boolani
Citigroup
Hold
2025-01-17
Price Target
$65 → $68
Upside
+8.04%
Citi raised the firm's price target on Progress Software to $68 from $65 and keeps a Neutral rating on the shares as part of a 2025 systems software outlook. The firm is "generally more bullish" on its IT and development and operations-centric coverage, citing better relative growth and a "cleaner" tether to generative artificial intelligence. Citi remains "selectively constructive" on cybersecurity names. Citi's chief information security officer survey results were "mostly uninspiring," and cyber's relative 2024 outperformance along with muted" estimate revisions means the group will likely take a breather, the analyst tells investors in a research note.
Brent Thill
Jefferies
Hold
2025-01-06
Price Target
$65 → $70
Upside
+7.68%
Raymond McDonough
Guggenheim
Strong Buy
2024-09-25
Price Target
$64 → $70
Upside
+9.51%
