TMCnet News
Downgrade Alert for Progress Software (PRGS)Jun 14, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Progress Software (NASDAQ:PRGS) was downgraded from Buy to Hold at Needham today. The stock closed yesterday at $23.31 on volume of 126,000 shares, below average daily volume of 188,000. Progress Software (NASDAQ:PRGS) has potential upside of 9.4% based on a current price of $23.31 and analysts' consensus price target of $25.50. The stock should find initial support at its 50-day moving average (MA) of $22.63 and further support at its 200-day MA of $21.65. Progress Software Corporation develops, markets, and distributes application development, deployment, and integration software to business, industry, and government worldwide. The Company's products include databases, application servers, messaging servers, and development tools for Internet/Web, extranet, and intranet applications as well as for client/server and host applications. Over the past year, Progress Software has traded in a range of $17.45 to $24.50 and closed yesterday at $23.31, 34% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%. SmarTrend is tracking the current trend status for Progress Software and will alert subscribers who have PRGS in their portfolio or watchlist when shares have changed trend direction. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |