Progress Software (NASDAQ:PRGS) Issues FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its FY25 earnings guidance on Monday morning. The company provided EPS guidance of $5.25-5.37 for the period, compared to the consensus EPS estimate of $5.06. The company issued revenue guidance of $958-970 million, compared to the consensus revenue estimate of $964.35 million. Progress Software also updated its FY 2025 guidance to 5.250-5.370 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRGS shares. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their price target on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, DA Davidson restated a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Progress Software Stock Up 0.2 %

Shares of PRGS traded up $0.12 during trading hours on Monday, hitting $51.51. 1,278,906 shares of the company were exchanged, compared to its average volume of 534,481. The firm’s 50 day moving average is $56.06 and its 200-day moving average is $62.12. 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 has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a market cap of $2.23 billion, a PE ratio of 33.02, a PEG ratio of 2.82 and a beta of 0.88.

Insider Activity

In other news, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction dated 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 owns 7,613 shares in the company, valued at approximately $430,895.80. The trade was a 16.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the sale, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,482 shares of company stock valued at $984,621 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

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.