What is DA Davidson’s Estimate for PRGS FY2025 Earnings?

Progress Software Co. (NASDAQ:PRGS) – Research analysts at DA Davidson reduced their FY2025 earnings per share estimates for shares of Progress Software in a report released on Wednesday, January 22nd. DA Davidson analyst L. Schreiner now expects that the software maker will earn $4.18 per share for the year, down from their previous forecast of $4.68. DA Davidson currently has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.59 per share.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group boosted their target price 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. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Oppenheimer upped their price target on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.43.

Progress Software Price Performance

Shares of PRGS opened at $54.12 on Friday. The firm has a market cap of $2.35 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 6.24 and a beta of 0.93. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.23 and a current ratio of 0.81. The business’s 50 day moving average price is $65.96 and its two-hundred day moving average price is $62.34.

Institutional Trading of Progress Software

Several institutional investors and hedge funds have recently modified their holdings of the stock. EMC Capital Management boosted its position in shares of Progress Software by 43.8% during the fourth quarter. EMC Capital Management now owns 3,822 shares of the software maker’s stock valued at $249,000 after buying an additional 1,164 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after acquiring an additional 1,140,626 shares during the last quarter. KBC Group NV raised its holdings in shares of Progress Software by 44.5% in the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after purchasing an additional 719 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after purchasing an additional 394 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Progress Software by 4.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,820 shares of the software maker’s stock worth $2,008,000 after purchasing an additional 1,261 shares during the last quarter.

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.