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

Progress Software (NASDAQ:PRGSGet Free Report) 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.

Progress Software Price Performance

Shares of PRGS stock traded up $0.58 during mid-day trading on Tuesday, hitting $63.52. 658,426 shares of the stock were exchanged, compared to its average volume of 440,440. The company has a market cap of $2.73 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 6.86 and a beta of 0.93. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. The firm has a fifty day moving average of $66.54 and a 200 day moving average of $62.38. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87.

Analyst Ratings Changes

PRGS has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday. Jefferies Financial Group raised their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Oppenheimer raised their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Citigroup increased their price objective on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. Finally, StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Two 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Read Our Latest Research Report on PRGS

Insider Transactions at Progress Software

In other 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 completion of the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This trade represents a 35.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

About Progress Software

(Get Free Report)

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.

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