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

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

Progress Software Price Performance

PRGS stock traded up $0.12 on Monday, hitting $51.51. 1,278,906 shares of the company’s stock traded hands, compared to its average volume of 534,481. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 2.82 and a beta of 0.88. Progress Software has a 1-year low of $48.00 and a 1-year 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. The stock has a fifty day moving average of $56.06 and a 200-day moving average of $62.12.

Insider Activity

In related news, CFO Anthony Folger sold 15,000 shares of Progress Software 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 transaction, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction dated 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 directly owns 4,303 shares of the company’s stock, valued at $242,000.72. This represents a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,482 shares of company stock worth $984,621. Insiders own 3.40% of the company’s stock.

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.