Progress Software (NASDAQ:PRGS) Updates FY 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY 2025 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.250-5.370 for the period, compared to the consensus estimate of 5.060. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $964.4 million. Progress Software also updated its FY25 guidance to $5.25-5.37 EPS.

Progress Software Stock Up 0.2 %

Shares of NASDAQ:PRGS traded up $0.12 during mid-day trading on Monday, hitting $51.51. 1,279,698 shares of the company traded hands, compared to its average volume of 534,498. The stock has a market cap of $2.23 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.82 and a beta of 0.88. The stock has a 50-day moving average price of $56.06 and a two-hundred day moving average price of $62.12. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRGS. Citigroup upped 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. Jefferies Financial Group increased their price objective 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. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim reissued a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Finally, DA Davidson reaffirmed a “buy” rating and set a $75.00 target price on shares of Progress Software in a research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the transaction, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. This represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,482 shares of company stock valued at $984,621. Company insiders own 3.40% of the company’s stock.

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.