Technical buy point set upThe stock is full filling all MM criteria and setting up technical buy point.
However, there is no shakeout yet, so be careful
PRGS trade ideas
6/24/24 - $prgs - 6/24/24 :: VROCKSTAR :: NASDAQ:PRGS
Looks enticing, but pass
I'll keep this one short and sweet. Pass:
- Growing >10% a year, *okay* but 100% of it is growth of SG&A, so the more selling they put in, the more they sell. it's not scaling
- 3.7x ev to sales is here nor there. I can pay the same amt for NYSE:BILL and without the leverage in my capital stack growing >20%. even NYSE:BILL is tough to buy today, still
- 13x PE cheap and 5.5% implied FCF yield (let's back out the stock comp) is cheap-ish, but i can buy zoom for HSD PE and nearly 10% implied FCF yield (though not growing double digits, there's always some trade off to consider).
- the stock chart vs. the S&P (type "PRGS/SPY" into trading view) is back to 2001/2002 levels. in the last decade it's been down only vs the S&P comp. so still better than cash (nominal stock price still went up), but clearly there were a lot of better boats and especially in software
- will it get bought/ taken out? who knows. i don't care bc the fundamentals aren't really suggesting i need to be involved here. i'll leave it for the PE vultures to pull this one apart and argue for the value they can create. have at it.
pass
- V
Progress Software Corp ($PRGS) Surges on Strong Q4 FY23 Results
Progress Software Corp (NASDAQ: NASDAQ:PRGS ) has emerged as a standout performer in the software industry, with its stock experiencing a notable 1.44% rise following the release of impressive fourth-quarter fiscal year 2023 results. The company's robust financial performance and optimistic outlook for 2024 have captured the attention of investors and analysts alike.
Key Financial Highlights:
Progress Software reported adjusted earnings per share of $1.02 for the fourth quarter, surpassing analysts' estimates of 91 cents. The company's adjusted revenue growth of 13% reached $177.5 million, outperforming the projected revenue of $174.12 million. These results underscore the company's ability to consistently outpace expectations and deliver strong financial outcomes.
Annualized Recurring Revenue (ARR) stood at an impressive $574 million, marking a substantial 17% year-over-year increase on a constant currency basis. The company's effective management of cash and cash equivalents, totaling $127.0 million at the end of the quarter, further demonstrates its solid financial position.
Operational Achievements:
Progress Software's commitment to operational excellence is evident in its non-GAAP operating margin of 35%, a commendable figure despite a slight dip from 39% the previous year. The successful integration of MarkLogic ahead of schedule and the generation of $175 million in adjusted free cash flow underscore the company's efficient operational management.
Strategic Debt Reduction and Future Acquisitions:
The company's proactive approach to debt management is noteworthy, as it paid down another $30 million in the fourth quarter, solidifying its financial foundation. With an eye on the future, Progress Software remains well-positioned for strategic acquisitions, a testament to its forward-thinking approach to sustaining growth.
Outlook for 2024:
Progress Software's bullish outlook for fiscal year 2024 adds to the positive sentiment surrounding the company. The integration of MarkLogic is expected to significantly contribute to full-year results, propelling operating income, cash flow, and revenues. This optimistic forecast positions Progress Software as a key player in the evolving software landscape.
Conclusion:
Progress Software Corp's strong fourth-quarter fiscal year 2023 performance and optimistic projections for 2024 showcase a company that continues to navigate the dynamic software industry with resilience and strategic acumen. Investors and industry observers will likely keep a close eye on PRGS as it charts a course for sustained growth and innovation in the coming months.
PRGS Progress Software Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of PRGS Progress Software Corporation prior to the earnings report this week,
I would consider purchasing the 55usd strike price Puts with
an expiration date of 2023-10-20,
for a premium of approximately $1.57.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
$PRGS Setting up post Earning Gap Up$PRGS broke out of an 8 months base on earning few weeks ago and been pulling back/consolidating since then. Looks to be rounding its first natural reaction PB buy against that small consolidation area post earning gap.
Extreme vol dry up is what particularly caught my attention
Earning and Sales acceleration on deck to boost.
Buying the dip on PRGSNasdaq's sharp drop is creating a few buying opportunities in tech, but I think you have to be choosy. One that I like is Progress Software, which is sitting at 200 EMA support and near trend line support, with a forward P/E of 12 and a 1.8% dividend yield. Progress is fairly innovative, with 3 patents per year per billion dollars of market cap, and it's a growing company, with about 3% annual earnings and free cash flow growth. It's trading at about a 14% discount to its median earnings date price multiple of the last 4 years, and about a 37% discount to the average annual price target.
Sentiment on Progress is positive. Put/call ratio is bullish at .43, and it just launched a new product (latest release of Kendo UI, with lots of new features) just this morning. The analyst rating score is 8.9/10, a strong buy. Earnings outlook is positive. Here's the presser on the Kendo UI launch:
investors.progress.com
PRGS - January 10, 2021Progress Software Corporation develops and provides various business software solutions to clients. This includes custom application development, data connectivity, file integration, secure platform rollout across multiple applications, network monitoring solutions, and hybrid cloud storage solutions. The company trades at just 5x Sales and 13x EBITDA, and supports impressive gross margins of 88%. PRGS is profitable and has minimal capex which boosts free cash flow. They also have stable revenues of +$400M per year and return 25% of FCF to shareholders through dividends. PRGS can continue higher past 47 and has earnings this Thursday after market close.
Progress Software $PRGSProgress Software (PRGS) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.50 per share a year ago.
Uptrend starts after break above $40
Progress Software Bullish indicators pre earnings $PRGS
Nice reversal underway after deep retrace.
Point Of Control (redline) should be considerable resistance during any rally.
$37 a reasonable target
Market remain very volatile, only trade with what you can afford to lose, or better sit on your hands and wait for all the madness to pass.
PRGS: Cypher Pattern un MotionPRGS is potentially in a Cypher pattern. D leg had been completed today and we can start looking for an entry. Use any bullish signals you are comfortable with to enter. Look for 0.386 and 0.618 as initial and secondary target respectively. Stop loss is clearly defined inter the X point
PRGS Earning mixed Options tradeSimple options trade opportunity with the HIGH IV from earning you can can get a directional trade to sell puts and calls spreads or even a full iron condor
Progress Software (NASDAQ:PRGS): Q4 Non-GAAP EPS of $0.79 beats by $0.04; GAAP EPS of -$0.11 misses by $0.33.
Revenue of $123.42M (+25.6% Y/Y) beats by $5.12M.
Shares +7%.
We had a strong grind all week into this report expect a sell the news but the idea behind this is strictly premium reaping of the options price.
Be mindful it is friday
Scalp levels as always from the NINJA Scalper
PRGS breakout and retestLast week had a good breakout, retested breakout as support, calls over 41.50
PRGS - M CHARTHi, today we are going to talk about KKR
We observe a M, some important points. The details are highlighted above.
Thank you for reading and leave your comments if you like.
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Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should use it as financial advice
Progress Software could be a rewarding long into earnings.Progress Software (NASDAQ:PRGS) is scheduled to announce Q2 earnings results on Thursday, June 27th, after market close. PRGS looks very appealing pre earnings as it has quite a good record of earnings beats and given the fact that the stock is now about to fill post earnings gaps on the chart, we think a notable bounce could be on the way very soon if not tonight.
COMPANY ANNOUNCEMENT Progress PRGS, +0.99% the leading provider of application development and digital experience technologies, today announced that Schneider Electric, a $30B global energy management company, has used the Progress® Kinvey® high productivity app development platform to transform its mobile user experience.
COMPANY PROFILE
Progress Software Corp. engages in the provision of a platform, which develops and deploy mission-critical business applications. It operates through the following business segments: OpenEdge Business; Data Connectivity and Integration; and Application Development and Deployment. The OpenEdge Business segment provides product enhancements and marketing supports for the partners to sell more of its existing solutions to their customers. The Data Connectivity and Integration segment focuses on the growth of the data assets of the company, including its data integration components of the cloud offering. The Application Development and Deployment segment generates net new customers for the application development assets of the company. The company was founded by Joseph Wright Alsop, Clyde Kessel and Charles Arthur Ziering in 1981 and is headquartered in Bedford, MA.
Long term PRGS analysisLong term PRGS analysis
Abstract:
Midterm short, mid-longterm long up to $61-$74 levels
PRGS has a very clearly printed correction wave that gives a solid base for a high probability long term analysis.
Wave analysis gives us powerful tools for direction and potential forecasting, but it is a probability forecast.
There are two options that can develop. Both have same direction and similar target levels, but a different path.
Option 1)
Impulse ending a cycle wave
started 02.2009
up to levels $61-74 (01.2021)
Confirmation: Clear breakthrough of $37 level
Rejection: Powerful bounce from levels around $37
Probability: 60%
Option 2)
An impulse ending an intermediate wave
started 10.2018
up to levels of $64 (04.2020)
Confirmation: Powerful bounce from levels around $37
Rejection: Clear breakthrough of $37 level
Probability:40%
As patterns develop and give more clues which option will follow, I will update the idea.
At levels $37, we will look fo:
1) price action, candle strength on dayly and 4H charts.
2) RSI and MACD divergence indicating bear weakness and potential reversal
Long term PRGS analysisAbstract:
Midterm short, mid-long term long up to $61-$74 levels
_____________________
A best effort promise to publish forecasts each week.
Requests for forecasts are welcome.
_____________________
PRGS has a very clearly printed correction wave that gives a solid base for a high probability long term analysis.
Wave analysis gives us powerful tools for direction and potential forecasting, but it is a probability forecast.
There are two options that can develop. Both have same direction and similar target levels, but a different path.
Option 1)
Impulse ending a cycle wave
started 02.2009
up to levels $61-74 (01.2021)
Confirmation: Clear breakthrough of $37 level
Rejection: Powerful bounce from levels around $37
Probability: 60%
Option 2)
An impulse ending an intermediate wave
started 10.2018
up to levels of $64 (04.2020)
Confirmation: Powerful bounce from levels around $37
Rejection: Clear breakthrough of $37 level
Probability:40%
As patterns develop and give more clues which option will follow, I will update the idea.
At levels $37, we will look fo:
1) price action, candle strength on dayly and 4H charts.
2) RSI and MACD divergence indicating bear weakness and potential reversal
_____________________
Disclaimer:
Not an investment advise.
Levels and dates are approximate.
An option probabilities sum less than 100% means unformulated options.
PRGS: Pro trader run signaled HFT gap up potentialPRGS has a classic Dark Pool quiet accumulation pattern followed by a pro trader run and then the HFT gap that is a breakaway gap. The professional traders’ technical footprint was the signal that this stock was poised for an HFT gap or run up.
PRGS - Good R/R hereResults expected 3/31 but most of the result noise seems to be baked in this shakeout here. Sitting at the 200D SMA and with sellers running out of bullets, this could be a good long R/R trade.
