Progress Software (NASDAQ:PRGS) Updates Q1 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.02-$1.08 for the period, compared to the consensus earnings per share 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.

Progress Software Stock Up 0.9 %

PRGS stock opened at $63.52 on Wednesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day simple moving average is $66.44 and its 200-day simple moving average is $62.44. 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 $2.73 billion, a PE ratio of 33.97, a P/E/G ratio of 6.86 and a beta of 0.93.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer boosted their price target on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group upped their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, January 17th. Finally, DA Davidson lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

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.