Progress Software (NASDAQ:PRGS) Releases FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY25 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.00-$5.12 for the period, compared to the consensus earnings per share estimate of $5.62. The company issued revenue guidance of $958-$970 million, compared to the consensus revenue estimate of $944.69 million. Progress Software also updated its Q1 guidance to $1.02-$1.08 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PRGS shares. StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup increased their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. DA Davidson upped their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer upped their target price on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.71.

Progress Software Stock Performance

NASDAQ PRGS traded up $0.58 on Tuesday, hitting $63.52. 650,705 shares of the company traded hands, compared to its average volume of 438,395. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. The business’s 50 day moving average price is $66.54 and its 200-day moving average price is $62.38. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 6.86 and a beta of 0.93. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56.

Insider Activity at Progress Software

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the completion of the sale, the insider now directly owns 3,167 shares of the company’s stock, valued at $206,076.69. This trade represents a 35.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Progress Software Company Profile

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.