DA Davidson keeps a Buy rating and $75 price target on Progress Software (PRGS) after its “strong” Q1 results. The integration of ShareFile is tracking ahead of schedule and the firm expects the management to deliver on its goal of driving the business to target operating margins of 40%, the analyst tells investors in a research note. DA Davidson adds that it continues to believe Progress can deliver strong inorganic growth while maintaining low organic growth and best-in-class margins.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRGS:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue