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 EPS guidance of 5.250-5.370 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on PRGS shares. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. Citigroup boosted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Jefferies Financial Group increased their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, DA Davidson reaffirmed a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.00.

Progress Software Price Performance

Shares of PRGS opened at $51.51 on Tuesday. The company 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. Progress Software has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The firm’s 50 day moving average price is $55.83 and its 200 day moving average price is $62.08.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the sale, the insider now directly owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of Progress Software 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 transaction, the chief financial officer now owns 44,564 shares of the company’s stock, valued at $2,508,953.20. This represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,482 shares of company stock valued at $984,621. 3.40% of the stock is currently owned by company insiders.

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.