Wedbush Has Positive Estimate for PRGS FY2025 Earnings

Progress Software Corporation (NASDAQ:PRGS) – Wedbush increased their FY2025 earnings estimates for shares of Progress Software in a note issued to investors on Tuesday, July 1st. Wedbush analyst D. Ives now forecasts that the software maker will earn $4.22 per share for the year, up from their prior forecast of $4.21. Wedbush currently has a “Outperform” rating and a $75.00 target price on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share. Wedbush also issued estimates for Progress Software’s Q4 2025 earnings at $1.04 EPS.

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

Several other equities analysts have also recently weighed in on the stock. DA Davidson raised their price target on shares of Progress Software from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progress Software in a research report on Friday, June 27th. Wall Street Zen cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday, June 27th. Finally, Citigroup reissued a “neutral” rating on shares of Progress Software in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.17.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $54.14 on Thursday. Progress Software has a fifty-two week low of $50.68 and a fifty-two week high of $70.56. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 41.33, a PEG 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. The firm’s 50-day simple moving average is $61.68 and its 200 day simple moving average is $59.46.

Institutional Investors Weigh In On Progress Software

Several large investors have recently modified their holdings of PRGS. Bessemer Group Inc. increased its stake in shares of Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after purchasing an additional 296 shares during the last quarter. Orion Capital Management LLC bought a new stake in Progress Software during the 4th quarter valued at $33,000. Smartleaf Asset Management LLC raised its holdings in Progress Software by 893.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after acquiring an additional 688 shares during the period. Advisors Asset Management Inc. raised its holdings in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Progress Software by 25.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker’s stock valued at $84,000 after acquiring an additional 326 shares during the period.

Insider Activity

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.