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

Progress Software (NASDAQ:PRGS) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.000-5.120 for the period, compared to the consensus EPS estimate of 5.620. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $944.8 million. Progress Software also updated its FY25 guidance to $5.00-$5.12 EPS.

Analyst Upgrades and Downgrades

PRGS has been the subject of several research reports. DA Davidson increased their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Oppenheimer increased their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

Progress Software Trading Up 0.9 %

Shares of NASDAQ PRGS traded up $0.58 during midday trading on Tuesday, hitting $63.52. The company’s stock had a trading volume of 658,281 shares, compared to its average volume of 439,791. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. 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 firm has a market cap of $2.73 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 6.86 and a beta of 0.93. The business’s 50 day moving average is $66.54 and its two-hundred day moving average is $62.38.

Insiders Place Their Bets

In related news, insider Ian Pitt sold 1,747 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at approximately $206,076.69. The trade was a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

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.