Progress Software (NASDAQ:PRGS) Releases Q2 Earnings Guidance

Progress Software (NASDAQ:PRGS - Get Free Report) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.28-1.34 for the period, compared to the consensus EPS estimate of $1.17. The company issued revenue guidance of $235-241 million, compared to the consensus revenue estimate of $233.82 million. Progress Software also updated its FY 2025 guidance to 5.250-5.370 EPS.

Progress Software Stock Performance

PRGS stock traded down $0.99 during trading on Thursday, hitting $57.99. 1,108,026 shares of the company traded hands, compared to its average volume of 545,166. Progress Software has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a market cap of $2.50 billion, a PE ratio of 37.17, a P/E/G ratio of 2.82 and a beta of 0.88. The stock's 50-day simple moving average is $55.83 and its 200 day simple moving average is $62.03. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.27. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The firm had revenue of $238.02 million during the quarter, compared to analyst estimates of $235.64 million. During the same period in the previous year, the firm earned $1.25 EPS. The business's quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts expect that Progress Software will post 4.01 earnings per share for the current fiscal year.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on PRGS shares. Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. DA Davidson reissued a "buy" rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, January 6th. Finally, Wedbush reissued an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $75.17.

Insider Activity at Progress Software

In related news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the completion of the sale, the chief accounting officer now owns 4,303 shares of the company's stock, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. The trade was a 16.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,482 shares of company stock valued at $984,621. 3.40% 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.