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

Progress Software (NASDAQ:PRGS) issued an update on its FY 2025 earnings guidance on Monday morning. The company provided earnings per share guidance of 5.250-5.370 for the period, compared to the consensus earnings per share 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.

Progress Software Stock Up 0.2 %

PRGS stock opened at $51.51 on Tuesday. The stock has a market cap of $2.22 billion, a P/E ratio of 33.02, a PEG ratio of 2.82 and a beta of 0.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a twelve month low of $48.00 and a twelve month high of $70.56. The company’s 50 day moving average is $55.83 and its two-hundred day moving average is $62.08.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup upped their target price 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 reaffirmed a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Friday, January 17th. Finally, StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.00.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the transaction, the chief accounting officer now owns 4,303 shares in the company, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 in the last ninety days. Insiders own 3.40% of the company’s stock.

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.