Progress Software (NASDAQ:PRGS) Issues Q1 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its first quarter 2025 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.020-1.080 for the period, compared to the consensus EPS estimate of 1.410. The company issued revenue guidance of $232.0 million-$238.0 million, compared to the consensus revenue estimate of $235.8 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PRGS shares. Oppenheimer lifted their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Guggenheim reaffirmed a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Friday. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. DA Davidson upped their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.71.

Progress Software Stock Up 0.9 %

NASDAQ:PRGS traded up $0.58 during trading hours on Tuesday, hitting $63.52. 658,281 shares of the company’s stock traded hands, compared to its average volume of 439,791. The stock’s fifty day moving average price is $66.54 and its two-hundred day moving average price is $62.38. The firm has a market cap of $2.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 6.86 and a beta of 0.93. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. Progress Software has a twelve month low of $48.00 and a twelve month high of $70.56.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the transaction, the insider now owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. This trade represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.

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.