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

Progress Software (NASDAQ:PRGS) updated its first quarter 2025 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.020-1.080 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

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

Progress Software Price Performance

Shares of PRGS traded up $0.58 during mid-day trading on Tuesday, reaching $63.52. The company had a trading volume of 658,281 shares, compared to its average volume of 439,791. 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 has a market capitalization 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. Progress Software has a twelve month low of $48.00 and a twelve month high of $70.56. The company’s 50-day moving average is $66.54 and its 200-day moving average is $62.38.

Insider Buying and Selling at Progress Software

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

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.