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 (EPS) guidance of $5.25-5.37 for the period, compared to the consensus 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 Q2 guidance to $1.28-1.34 EPS.

Analyst Ratings Changes

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

Progress Software Stock Performance

Shares of Progress Software stock traded up $0.12 during midday trading on Monday, hitting $51.51. The company had a trading volume of 1,270,483 shares, compared to its average volume of 534,465. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 2.82 and a beta of 0.88. 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. The company has a fifty day simple moving average of $56.06 and a 200 day simple moving average of $62.12.

Insiders Place Their Bets

In related news, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,482 shares of company stock worth $984,621. Company 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.