
PROG Holdings (PRG) Stock Forecast & Price Target
PROG Holdings (PRG) Analyst Ratings
Bulls say
PROG Holdings Inc. reported a 6.6% increase in total revenue for the first quarter, reaching $684.1 million, highlighting strong financial performance. Additionally, the company's gross leased asset (GLA) portfolio experienced a modest growth of approximately 2%, indicating continued consumer demand for their lease-to-own solutions. Although lease merchandise write-offs increased by 40 basis points year-over-year to 7.4%, the overall revenue growth and portfolio expansion suggest a positive outlook for the company's financial health and operational stability.
Bears say
PROG Holdings reported an adjusted EBITDA of $70.3 million, exceeding consensus expectations but reflecting a year-over-year decline of 3.1%, which raises concerns about the company's potential for sustained profitability. Additionally, the adjusted EBITDA margin fell by 103 basis points to 10.3%, driven by lower gross margins and rising operating expenses associated with business investments, indicating challenges in cost management. Furthermore, the company's first-quarter gross merchandise volume (GMV) decreased by 4.0%, highlighting a contraction in newly underwritten leases and casting doubt on future revenue growth.
This aggregate rating is based on analysts' research of PROG Holdings and is not a guaranteed prediction by Public.com or investment advice.
PROG Holdings (PRG) Analyst Forecast & Price Prediction
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