Progress Software (NASDAQ:PRGS) Issues 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.

Progress Software Trading Up 0.9 %

Shares of PRGS traded up $0.58 on Tuesday, hitting $63.52. 658,426 shares of the stock traded hands, compared to its average volume of 440,440. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $2.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 6.86 and a beta of 0.93. The stock’s 50 day moving average is $66.54 and its two-hundred day moving average is $62.38. Progress Software has a 1 year low of $48.00 and a 1 year high of $70.56.

Wall Street Analyst Weigh In

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

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction 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 approximately $206,076.69. This trade represents a 35.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.