Progressive (PGR) Stock Forecast & Price Target

$251.10

-1.28 (-0.51%)

(As of 09/27/2024 ET)

Progressive - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 19 Analyst Ratings

Sell
0

Hold
6

Buy
13

Based on 19 Wall Street analysts who have issued ratings for Progressive in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 19 analysts, 6 have given a hold rating, 12 have given a buy rating, and 1 has given a strong buy rating for PGR.

Consensus Price Target

$257.18
2.42% Upside

According to the 19 analysts' twelve-month price targets for Progressive, the average price target is $257.18. The highest price target for PGR is $367.00, while the lowest price target for PGR is $165.00. The average price target represents a forecasted upside of 2.42% from the current price of $251.10.

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PGR Analyst Ratings Over Time

Type	Current Forecast 9/30/23 to 9/29/24	1 Month Ago 8/31/23 to 8/30/24	3 Months Ago 7/2/23 to 7/1/24	1 Year Ago 9/30/22 to 9/30/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	12 Buy rating(s)	12 Buy rating(s)	8 Buy rating(s)	7 Buy rating(s)
Hold	6 Hold rating(s)	5 Hold rating(s)	8 Hold rating(s)	5 Hold rating(s)
Sell	0 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$257.18	$234.41	$216.81	$142.93
Forecasted Upside	2.42% Upside	-7.05% Downside	3.51% Upside	2.60% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Hold	Hold

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PGR Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

PGR Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Progressive Stock vs. The Competition

Type	Progressive	Finance Companies	S&P 500
Consensus Rating Score	2.74	2.46	2.50
Consensus Rating	Moderate Buy	Hold	Hold
Predicted Upside	2.42% Upside	12.81% Upside	6.15% Upside
News Sentiment Rating	Positive News See Recent PGR News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/18/2024	The Goldman Sachs Group 2 of 5 stars	R. Cox Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$262.00 ➝ $280.00	+8.99%
9/16/2024	Roth Mkm 1 of 5 stars		Boost Target	Buy ➝ Buy	$270.00 ➝ $290.00	+13.73%
9/16/2024	Morgan Stanley 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$260.00 ➝ $300.00	+17.44%
9/10/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$281.00 ➝ $282.00	+12.06%
9/4/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Scott Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Equal Weight	$367.00	+44.54%
9/3/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$294.00 ➝ $312.00	+23.71%
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9/3/2024	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Shields Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$255.00 ➝ $275.00	+9.04%
8/15/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$250.00 ➝ $252.00	+7.64%
8/12/2024	Hsbc Global Res Subscribe to MarketBeat All Access for the recommendation accuracy rating	V. Gandhi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
8/12/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$253.00	+14.10%
8/7/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$239.00 ➝ $237.00	+8.72%
8/7/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$243.00 ➝ $246.00	+12.84%
7/17/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$256.00 ➝ $257.00	+16.11%
7/17/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$232.00 ➝ $225.00	+1.65%
7/11/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$210.00 ➝ $239.00	+13.14%
4/17/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$216.00 ➝ $218.00	+4.61%
1/10/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform	$174.00	+4.40%
12/12/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform
11/16/2023	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform
4/14/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral	$143.00	+4.09%
2/15/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	H. Fong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 11:25 AM ET.

Should I Buy Progressive Stock? PGR Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, September 23, 2024. Please send any questions or comments about these Progressive pros and cons to contact@marketbeat.com.

Progressive
Bull Case

Here are some ways that investors could benefit from investing in The Progressive Co.:

The Progressive Co. stock price has been steadily increasing, reaching $259.24 on the latest trading day, indicating positive momentum.
Analysts have given The Progressive Co. a consensus rating of "Moderate Buy" with an average price target of $257.18, suggesting potential for growth.
Insiders of The Progressive Co. have been actively selling shares, which could indicate confidence in the company's performance and future prospects.
Recent analyst reports have upgraded The Progressive Co. to a "strong-buy" rating, signaling a positive outlook from experts in the field.
The company's market capitalization of $151.83 billion reflects its strong position in the market and potential for long-term stability.

Progressive
Bear Case

Investors should be bearish about investing in The Progressive Co. for these reasons:

Despite positive analyst ratings, there is always a level of risk associated with investing in any company, including The Progressive Co.
Insiders selling shares could also be interpreted as a lack of confidence in the company's future performance, raising concerns for potential investors.
The company's price-to-earnings ratio of 26.53 may indicate that the stock is currently trading at a premium, potentially limiting short-term gains.
While recent price performance has been positive, past performance is not indicative of future results, and market conditions can change rapidly.
Investors should carefully consider their risk tolerance and investment goals before making decisions related to The Progressive Co. stock.

PGR Forecast - Frequently Asked Questions

: According to the research reports of 19 Wall Street equities research analysts, the average twelve-month stock price forecast for Progressive is $257.18, with a high forecast of $367.00 and a low forecast of $165.00.
: 19 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last year. There are currently 6 hold ratings, 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PGR shares.
: According to analysts, Progressive's stock has a predicted upside of 2.42% based on their 12-month stock forecasts.
: Over the previous 90 days, Progressive's stock had 4 upgrades by analysts.
: Progressive has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Citigroup, Evercore ISI, Hsbc Global Res, HSBC, Jefferies Financial Group, JPMorgan Chase & Co., Keefe, Bruyette & Woods, Morgan Stanley, Piper Sandler, Roth Mkm, The Goldman Sachs Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Progressive more than other "finance" companies. The consensus rating for Progressive is Moderate Buy while the average consensus rating for "finance" companies is Hold. Learn more on how PGR compares to other companies.

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This page (NYSE:PGR) was last updated on 9/29/2024 by MarketBeat.com Staff

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Progressive (PGR) Stock Forecast & Price Target