DA Davidson Issues Pessimistic Forecast for Progress Software (NASDAQ:PRGS) Stock Price

Progress Software (NASDAQ:PRGS - Free Report) had its price objective cut by DA Davidson from $75.00 to $70.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the software maker's stock. DA Davidson also issued estimates for Progress Software's Q2 2025 earnings at $0.97 EPS, FY2025 earnings at $4.08 EPS and FY2026 earnings at $4.43 EPS.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Guggenheim reissued a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Wedbush reiterated an "outperform" rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Finally, Citigroup lifted their target price on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.33.

Progress Software Price Performance

Shares of Progress Software stock traded down $0.07 during trading on Monday, reaching $56.00. 433,099 shares of the company's stock were exchanged, compared to its average volume of 553,848. The firm's 50-day moving average price is $55.80 and its 200 day moving average price is $61.61. The company has a market cap of $2.41 billion, a P/E ratio of 35.90, a PEG ratio of 2.82 and a beta of 0.85. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced 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. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. During the same period in the previous year, the business earned $1.25 EPS. The firm's revenue was up 28.9% compared to the same quarter last year. As a group, research analysts anticipate that Progress Software will post 4.01 earnings per share for the current year.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares of the company's stock, valued at approximately $242,000.72. This represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,185 shares of company stock valued at $1,024,193. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Progress Software by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock valued at $381,487,000 after acquiring an additional 45,246 shares during the last quarter. Pacer Advisors Inc. grew its position in Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock valued at $74,474,000 after buying an additional 1,140,626 shares during the period. Principal Financial Group Inc. grew its stake in shares of Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after acquiring an additional 43,936 shares during the period. Geode Capital Management LLC raised its holdings in Progress Software by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock valued at $66,039,000 after acquiring an additional 4,927 shares during the period. Finally, Invesco Ltd. grew its stake in Progress Software by 0.7% during the fourth quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock valued at $52,284,000 after acquiring an additional 5,474 shares in the last quarter.

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.