Research Analysts Offer Predictions for PRGS FY2025 Earnings

Progress Software Corporation (NASDAQ:PRGS) – Research analysts at DA Davidson increased their FY2025 EPS estimates for Progress Software in a note issued to investors on Tuesday, July 1st. DA Davidson analyst L. Schreiner now anticipates that the software maker will earn $4.24 per share for the year, up from their prior forecast of $4.08. DA Davidson has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software’s FY2026 earnings at $4.58 EPS.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The company had revenue of $237.36 million during the quarter, compared to the consensus estimate of $237.23 million. During the same period in the prior year, the firm earned $1.09 earnings per share. Progress Software’s revenue was up 35.6% on a year-over-year basis.

A number of other brokerages have also recently weighed in on PRGS. Wedbush restated an “outperform” rating and issued a $75.00 price objective on shares of Progress Software in a report on Friday, June 27th. Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Jefferies Financial Group restated a “hold” rating on shares of Progress Software in a report on Friday, June 27th. Wall Street Zen cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Citigroup restated a “neutral” rating on shares of Progress Software in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.17.

Progress Software Price Performance

Shares of PRGS opened at $54.14 on Thursday. The stock has a market cap of $2.33 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 2.57 and a beta of 0.68. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.79 and a current ratio of 0.43. Progress Software has a fifty-two week low of $50.68 and a fifty-two week high of $70.56. The firm’s 50-day simple moving average is $61.68 and its two-hundred day simple moving average is $59.46.

Institutional Trading of Progress Software

Large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its stake in shares of Progress Software by 1.8% in the first quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock worth $546,000 after acquiring an additional 187 shares during the period. Vanguard Group Inc. grew its stake in shares of Progress Software by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock worth $381,487,000 after acquiring an additional 45,246 shares during the period. Sei Investments Co. grew its position in Progress Software by 22.7% during the fourth quarter. Sei Investments Co. now owns 65,952 shares of the software maker’s stock valued at $4,297,000 after buying an additional 12,191 shares during the period. Amundi grew its position in Progress Software by 110.5% during the fourth quarter. Amundi now owns 25,117 shares of the software maker’s stock valued at $1,594,000 after buying an additional 13,187 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Progress Software during the fourth quarter valued at approximately $15,432,000.

Insider Activity at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total value of $83,209.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by insiders.

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.