Progress Software (NASDAQ:PRGS) updated its FY 2020
After-Hours earnings guidance on Tuesday. The company provided EPS guidance of 2.94-2.97 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.96. The company issued revenue guidance of $452-456 million, compared to the consensus revenue estimate of $454.89 million.Progress Software also updated its Q4 guidance to $0.76-0.79 EPS.
PRGS stock opened at $36.68 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 35.96 and a beta of 1.03. The business’s fifty day moving average price is $36.48 and its two-hundred day moving average price is $36.61. Progress Software has a fifty-two week low of $28.09 and a fifty-two week high of $52.50.
Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Saturday, October 3rd. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The business had revenue of $110.88 million for the quarter, compared to analyst estimates of $107.17 million. Progress Software had a return on equity of 34.66% and a net margin of 10.81%. Progress Software’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Research analysts expect that Progress Software will post 2.54 EPS for the current year.
PRGS has been the subject of a number of analyst reports. Zacks Investment Research upgraded Progress Software from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a research report on Friday, September 11th. Benchmark raised their price objective on Progress Software from $39.00 to $43.00 and gave the stock a buy rating in a research report on Friday, June 26th. ValuEngine downgraded Progress Software from a hold rating to a sell rating in a report on Monday, August 3rd. BidaskClub upgraded Progress Software from a strong sell rating to a sell rating in a report on Wednesday, September 23rd. Finally, Wedbush reiterated an outperform rating and issued a $45.00 target price on shares of Progress Software in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Progress Software currently has an average rating of Buy and an average price target of $45.75.
About Progress Software
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.
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