Progress Software (NASDAQ:PRGS) Updates Q2 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.28-1.34 for the period, compared to the consensus estimate of $1.17. The company issued revenue guidance of $235-241 million, compared to the consensus revenue estimate of $233.82 million. Progress Software also updated its FY 2025 guidance to 5.250-5.370 EPS.

Analysts Set New Price Targets

A number of analysts recently commented on PRGS shares. Citigroup upped their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. DA Davidson reiterated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday. Finally, Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.17.

Progress Software Price Performance

Shares of Progress Software stock opened at $57.76 on Wednesday. The firm has a market cap of $2.49 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The company’s fifty day simple moving average is $55.72 and its two-hundred day simple moving average is $62.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.27. The firm had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. As a group, equities analysts expect that Progress Software will post 4.01 EPS for the current year.

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now 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 filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. The trade was a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,482 shares of company stock valued at $984,621. 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.