Q2 Earnings Forecast for PRGS Issued By DA Davidson

Progress Software Co. (NASDAQ:PRGS - Free Report) - Equities research analysts at DA Davidson issued their Q2 2025 EPS estimates for shares of Progress Software in a research report issued to clients and investors on Tuesday, April 1st. DA Davidson analyst L. Schreiner expects that the software maker will post earnings of $1.02 per share for the quarter. 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 $4.56 EPS.

Several other brokerages also recently commented on PRGS. Wedbush reissued an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday. Guggenheim restated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Tuesday. Citigroup raised their price target on 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 boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.17.

Remove Ads

Progress Software Price Performance

NASDAQ:PRGS traded down $1.82 during mid-day trading on Wednesday, hitting $56.17. 1,034,996 shares of the stock traded hands, compared to its average volume of 547,110. The business's 50-day moving average price is $55.83 and its 200 day moving average price is $62.03. 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 company has a market cap of $2.42 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS.

Insider Buying and Selling

In other news, CFO Anthony Folger sold 15,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $984,621 in the last quarter. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently modified their holdings of PRGS. Moody National Bank Trust Division lifted its position in Progress Software by 17.7% in the first quarter. Moody National Bank Trust Division now owns 22,240 shares of the software maker's stock valued at $1,146,000 after purchasing an additional 3,341 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Progress Software in the fourth quarter worth $7,966,000. Mackenzie Financial Corp raised its holdings in Progress Software by 22.2% during the 4th quarter. Mackenzie Financial Corp now owns 36,562 shares of the software maker's stock valued at $2,382,000 after buying an additional 6,640 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Progress Software during the 4th quarter valued at $33,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Progress Software by 17.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,639 shares of the software maker's stock worth $9,293,000 after acquiring an additional 21,289 shares during the last quarter.

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.