Progress Software (NASDAQ:PRGS) Updates Q1 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.02-$1.08 for the period, compared to the consensus EPS estimate of $1.41. The company issued revenue guidance of $232-$238 million, compared to the consensus revenue estimate of $235.74 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Analyst Ratings Changes

PRGS has been the topic of a number of analyst reports. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Oppenheimer boosted their target price on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.43.

Progress Software Stock Performance

NASDAQ:PRGS opened at $57.26 on Thursday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 6.92 and a beta of 0.93. The business has a 50 day moving average of $66.22 and a 200 day moving average of $62.40. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. 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.