Needham & Company Reiterates a 'Buy' on Progress Software (PRGS) Following Upbeat Analyst Day
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Price: $43.21 -1.41%
Rating Summary:
9 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
9 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Needham & Company reiterates a 'Buy' on Progress Software (NASDAQ: PRGS), PT $35.
Needham analyst says, "The Progress analyst day in NYC was focused on the message of growth, and efforts around the Responsive Process Mgmt (RPM)
product offering. Investors have been rewarded over the last few quarters, as the restructuring of the company has expanded margins from approx 22% to 30% during FY09-10. The analyst day, though, was focused on management plans to stimulate topline growth. At the center of the growth strategy is the RPM offering which incorporates the recently acquired Apama and Savvion products, as well as other newly developed offerings. The migration from point-sales of Apama (complex event processing) Savvion and others, to now be a solution sale approach (several products) may stimulate top-line growth in FY11-12."
For more ratings news on Progress Software click here and for the rating history of Progress Software click here.
Shares of Progress Software closed at $28.52 yesterday.
Needham analyst says, "The Progress analyst day in NYC was focused on the message of growth, and efforts around the Responsive Process Mgmt (RPM)
product offering. Investors have been rewarded over the last few quarters, as the restructuring of the company has expanded margins from approx 22% to 30% during FY09-10. The analyst day, though, was focused on management plans to stimulate topline growth. At the center of the growth strategy is the RPM offering which incorporates the recently acquired Apama and Savvion products, as well as other newly developed offerings. The migration from point-sales of Apama (complex event processing) Savvion and others, to now be a solution sale approach (several products) may stimulate top-line growth in FY11-12."
For more ratings news on Progress Software click here and for the rating history of Progress Software click here.
Shares of Progress Software closed at $28.52 yesterday.
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