Progress Software (NASDAQ:PRGS) Issues Q1 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its first quarter 2025 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.020-1.080 for the period, compared to the consensus EPS estimate of 1.410. The company issued revenue guidance of $232.0 million-$238.0 million, compared to the consensus revenue estimate of $235.8 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Progress Software Price Performance

PRGS stock traded up $0.58 during trading on Tuesday, reaching $63.52. The company’s stock had a trading volume of 658,426 shares, 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 quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $2.73 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 6.86 and a beta of 0.93. The company’s fifty day moving average is $66.54 and its 200-day moving average is $62.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday. 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 research note on Monday, January 6th. StockNews.com upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their target price on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.71.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 3,167 shares of the company’s stock, valued at $206,076.69. This represents a 35.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

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.