Progress Software (NASDAQ:PRGS) Releases FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.00-$5.12 for the period, compared to the consensus earnings per share estimate of $5.62. The company issued revenue guidance of $958-$970 million, compared to the consensus revenue estimate of $944.69 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. Oppenheimer boosted 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. Citigroup lifted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group increased 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. Finally, DA Davidson lifted their price target on Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Progress Software Trading Up 0.9 %

Shares of NASDAQ:PRGS opened at $63.52 on Wednesday. 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 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap 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 $66.44 and its 200-day moving average is $62.44.

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.