Progress Software Corporation (NASDAQ:PRGS) shares fell to a low of $43.99 before closing at $44.20. Intraday shares traded counted 0.81 million, which was -88.93% lower than its 30-day average trading volume of 429.38K. PRGS’s previous close was $44.48 while the outstanding shares total 44.11M. The firm has a beta of 1.24, a 12-month trailing P/E ratio of 25.71, and a growth ratio of 2.57. The stock’s Relative Strength Index (RSI) is 50.16, with weekly volatility at 2.29% and ATR at 1.06. The PRGS stock’s 52-week price range has touched low of $34.05 and a $49.23 high. The stock traded lower over the last trading session, losing -0.63% on 05/25/21.
Investors have identified the Software – Application company Progress Software Corporation as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $1.97 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Progress Software Corporation (PRGS) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For PRGS, the company has in raw cash 107.7 million on their books with 20.12 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on an incline. In terms of their assets, the company currently has 239.31 million total, with 265.74 million as their total liabilities.
PRGS were able to record 43.52 million as free cash flow during the 06/30/2021 quarter of the year, this saw their quarterly net cash flow reduce by 9.71 million. In cash movements, the company had a total of 44.69 million as operating cash flow.
Potential earnings growth for Progress Software Corporation (PRGS)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 06/30/2021 quarter of the year, Progress Software Corporation recorded a total of 121.28 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 9.56% coming in sequential stages and their sales for the 06/30/2021 quarter reducing by -0.91%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 17.99 million trying to sell their products during the last quarter, with the result yielding a gross income of 103.29 million. This allows shareholders to hold on to 44.11M with the recently reported earning now reading 0.43 cents per share. This is a figure that compared to analyst’s prediction for their 06/30/2021 (0.82 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.00 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on PRGS sounds very interesting.
Is the stock of PRGS attractive?
In related news, Senior Vice President, SEGAL JEREMY sold 761 shares of the company’s stock in a transaction that recorded on May 05. The sale was performed at an average price of 43.62, for a total value of 33,195. As the sale deal closes, the General Manager, DevTools, Jarrett Loren now sold 3,678 shares of the company’s stock, valued at 158,905. Also, Senior Vice President, QUINN GARY sold 5,000 shares of the company’s stock in a deal that was recorded on Feb 08. The shares were price at an average price of 42.69 per share, with a total market value of 213,441. Following this completion of acquisition, the Senior Vice President, QUINN GARY now holds 7,116 shares of the company’s stock, valued at 286,891. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.40%.
3 out of 3 analysts covering the stock have rated it a Buy, while 0 have maintained a Hold recommendation on Progress Software Corporation. 0 analysts has assigned a Sell rating on the PRGS stock. The 12-month mean consensus price target for the company’s shares has been set at $56.00.