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

Progress Software (NASDAQ:PRGS) updated its FY 2025 earnings guidance on Tuesday. The company provided EPS guidance of 5.000-5.120 for the period, compared to the consensus EPS estimate of 5.620. The company issued revenue guidance of $958.0 million-$970.0 million, compared to the consensus revenue estimate of $944.8 million. Progress Software also updated its FY25 guidance to $5.00-$5.12 EPS.

Progress Software Trading Up 0.9 %

Shares of NASDAQ:PRGS opened at $63.52 on Wednesday. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $2.73 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 6.86 and a beta of 0.93. The company has a 50-day simple moving average of $66.44 and a 200 day simple moving average of $62.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group boosted their price target on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Oppenheimer increased their price objective on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

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.