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Technology Stocks : Progress Software -- Ignore unavailable to you. Want to Upgrade?

To: captaintime who wrote (276)	11/22/1999 12:41:00 PM
From: Moneylover	Read Replies (1) \| Respond to of 296

Online Daytraders.Com Our "Stock of the Week" this week is Progress Software (PRGS), trading at 24 times trailing earnings and 19 times projected 2000 earnings. However, PRGS has beaten earnings estimated the last 5 quarters in a row, and appears to be ready for another upside surprise this quarter due to its strong presence in the potentially huge market for Internet-related growth for the software industry. According to the Wall Street Journal, analysts are calling the potential of the business as ?revolutionary?,as many companies will be able save on their technology expenses while running more efficiently. We are placing a one month price target of $60 on PRGS. Progress Software makes tools that help software developers do their jobs better. The company's Progress development and database management tools are sold to corporate and government agencies and enable developers there to network their computers and machines more effectively. Other products include WebSpeed (which lets customers engage in Internet commerce) and Java development tool Apptivity. Nearly 60% of Progress Software's sales come from outside North America. A large portion of its sales come from partners who develop software for customers using Progress programming languages.