Progress Software (NASDAQ:PRGS) Updates FY25 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY25 earnings guidance on Monday. The company provided earnings per share guidance of $5.25-5.37 for the period, compared to the consensus earnings per share estimate of $5.06. The company issued revenue guidance of $958-970 million, compared to the consensus revenue estimate of $964.35 million. Progress Software also updated its FY 2025 guidance to 5.250-5.370 EPS.

Progress Software Trading Up 12.1 %

PRGS opened at $57.76 on Wednesday. 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’s 50 day simple moving average is $55.72 and its two-hundred day simple moving average is $62.08. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56.

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

Analyst Ratings Changes

Several research firms have weighed in on PRGS. Jefferies Financial Group boosted 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 cut Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Tuesday. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday. Finally, Citigroup increased their price target on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average price target of $75.17.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the transaction, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,482 shares of company stock valued at $984,621. 3.40% of the stock is currently owned by corporate insiders.

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.