The Relative Strength (RS) Rating for Progress Software stock climbed into a new percentile Friday, as it got a lift from 66 to 72.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest runs. See if Progress Software stock can continue to show renewed price strength and hit that benchmark.
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Is Progress Software Stock A Buy?
Progress Software stock soared 6% on Friday, amid Q2 earnings beat for fiscal 2023. While computer software database stock is not near a proper buying range right now, see if it goes on to form and break out of a proper base.
Earnings growth slowed last quarter from 23% to 2%. But revenue moved higher, from 13% to 20%.
Progress Software stock earns the No. 4 rank among its peers in the Computer Software-Database industry group. Dropbox and Splunk are also among the group's highest-rated stocks.
