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

Progress Software (NASDAQ:PRGS) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.000-5.120 for the period, compared to the consensus earnings per share estimate of 5.620. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $944.8 million. Progress Software also updated its FY25 guidance to $5.00-$5.12 EPS.

Analyst Ratings Changes

PRGS has been the topic of several recent analyst reports. Oppenheimer increased their price objective on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson reaffirmed a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, January 17th. 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. Finally, StockNews.com upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.43.

Progress Software Trading Down 9.9 %

Shares of Progress Software stock opened at $57.26 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $66.22 and its 200-day simple moving average is $62.40. The stock has a market cap of $2.46 billion, a P/E ratio of 36.71, a P/E/G ratio of 6.92 and a beta of 0.93. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56.

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.