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 earnings per share guidance of $5.25-5.37 for the period, compared to the consensus earnings per share 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.

Progress Software Price Performance

NASDAQ:PRGS opened at $51.51 on Tuesday. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 2.82 and a beta of 0.88. The stock’s 50 day moving average price is $55.83 and its two-hundred day moving average price 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.

Analysts Set New Price Targets

Several brokerages recently commented on PRGS. Citigroup lifted their target price on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Jefferies Financial Group upped 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, DA Davidson reaffirmed a “buy” rating and set a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $74.00.

Insiders Place Their Bets

In other Progress Software news, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at approximately $242,000.72. The trade was a 18.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,482 shares of company stock worth $984,621. 3.40% of the stock is owned by corporate insiders.

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.