Progress Software (NASDAQ:PRGS) Issues FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS - Get Free Report) updated its FY25 earnings guidance on Tuesday. The company provided EPS guidance of $5.00-$5.12 for the period, compared to the consensus EPS estimate of $5.62. The company issued revenue guidance of $958-$970 million, compared to the consensus revenue estimate of $944.69 million. Progress Software also updated its Q1 guidance to $1.02-$1.08 EPS.

Progress Software Trading Up 0.9 %

Shares of PRGS stock traded up $0.58 during trading hours on Tuesday, reaching $63.52. The company had a trading volume of 634,471 shares, compared to its average volume of 437,292. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 6.86 and a beta of 0.93. The company has a 50 day moving average of $66.54 and a 200 day moving average of $62.38. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRGS shares. Jefferies Financial Group lifted their price objective on 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 raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Citigroup raised their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday. Guggenheim reissued a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Friday. Finally, DA Davidson upped their target price on Progress Software from $65.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.71.

Insider Buying and Selling at Progress Software

In other news, insider Ian Pitt sold 1,747 shares of the company's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the sale, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company's stock.

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.

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