Progress Software (NASDAQ:PRGS) Releases Q1 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.02-$1.08 for the period, compared to the consensus EPS estimate of $1.41. The company issued revenue guidance of $232-$238 million, compared to the consensus revenue estimate of $235.74 million. Progress Software also updated its FY 2025 guidance to 5.000-5.120 EPS.

Analysts Set New Price Targets

Several research firms recently weighed in on PRGS. DA Davidson reaffirmed a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Oppenheimer boosted their price target on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.43.

Progress Software Stock Down 9.9 %

NASDAQ:PRGS opened at $57.26 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. Progress Software has a one year low of $48.00 and a one year high of $70.56. The firm’s 50 day simple moving average is $66.22 and its 200 day simple moving average is $62.40. The company has a market cap of $2.46 billion, a PE ratio of 36.71, a P/E/G ratio of 6.92 and a beta of 0.93.

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.