Progress Software (NASDAQ:PRGS) Issues FY 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its FY 2025 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 5.250-5.370 for the period, compared to the consensus estimate of 5.060. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $964.4 million. Progress Software also updated its FY25 guidance to $5.25-5.37 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday. Guggenheim reiterated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research report on Tuesday. Jefferies Financial Group boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup raised 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. Finally, DA Davidson restated a “buy” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and an average target price of $75.17.

Progress Software Price Performance

Shares of PRGS opened at $57.76 on Wednesday. The business’s 50-day moving average is $55.72 and its 200-day moving average is $62.08. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.82 and a beta of 0.88. Progress Software has a fifty-two week low of $48.00 and a fifty-two week high of $70.56.

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

Insider Buying and Selling

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,482 shares of company stock worth $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.