Progress Software (NASDAQ:PRGS) Releases FY 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY 2025 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.000-5.120 for the period, compared to the consensus 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

Shares of Progress Software stock traded up $0.58 on Tuesday, reaching $63.52. 658,426 shares of the stock were exchanged, compared to its average volume of 440,440. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. 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 business has a fifty day moving average price of $66.54 and a two-hundred day moving average price of $62.38. The firm has a market capitalization of $2.73 billion, a PE ratio of 33.97, a PEG ratio of 6.86 and a beta of 0.93.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of recent analyst reports. DA Davidson boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Citigroup boosted their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday. Oppenheimer boosted their price target on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective 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. Finally, Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Friday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and an average price target of $71.71.

Insider Buying and Selling

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the sale, the insider now owns 3,167 shares of the company’s stock, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is 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.