Progress Software (NASDAQ:PRGS) Releases FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY25 earnings guidance on Tuesday. The company provided EPS guidance of $5.00-$5.12 for the period, compared to the consensus EPS estimate of $5.62. The company issued revenue guidance of $958-$970 million, compared to the consensus revenue estimate of $944.69 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Wall Street Analyst Weigh In

PRGS has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Citigroup boosted their price target 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 raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, DA Davidson reiterated a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Trading Down 9.9 %

NASDAQ PRGS opened at $57.26 on Thursday. 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 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. The stock’s fifty day moving average price is $66.22 and its 200-day moving average price 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.

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.