Progress Software (NASDAQ:PRGS) Issues FY 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY 2025 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.250-5.370 for the period, compared to the consensus estimate of 5.060. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $964.4 million. Progress Software also updated its FY25 guidance to $5.25-5.37 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PRGS. Jefferies Financial Group increased their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Citigroup upped their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. DA Davidson reiterated a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Progress Software Stock Performance

Shares of PRGS stock traded up $0.12 during trading hours on Monday, reaching $51.51. 1,278,906 shares of the company traded hands, compared to its average volume of 534,481. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a market cap of $2.23 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.82 and a beta of 0.88. The firm has a 50-day moving average price of $56.06 and a 200 day moving average price of $62.12. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the sale, the insider now owns 7,613 shares in the company, valued at $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,482 shares of company stock worth $984,621. 3.40% of the stock is owned by corporate insiders.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.