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 Stock Performance

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

Analyst Ratings Changes

PRGS has been the topic of several research reports. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday. Citigroup upped their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. DA Davidson raised their target price on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Oppenheimer upped their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.71.

Insiders Place Their Bets

In other news, insider Ian Pitt sold 1,747 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total value of $113,677.29. Following the transaction, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. The trade was a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.