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

Progress Software (NASDAQ:PRGS) updated its FY 2025 earnings guidance on Monday. The company provided EPS guidance of 5.250-5.370 for the period, compared to the consensus EPS 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 Trading Up 0.2 %

NASDAQ:PRGS traded up $0.12 on Monday, reaching $51.51. 1,279,698 shares of the stock traded hands, compared to its average volume of 534,498. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. The company’s 50 day moving average is $56.06 and its 200-day moving average is $62.12. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

Analysts Set New Price Targets

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

Insider Activity at Progress Software

In related news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the sale, the insider now owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This trade represents 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, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock valued at $984,621 in the last three months. Corporate 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.