FY2025 EPS Estimate for Progress Software Lifted by Analyst

Key Points

• DA Davidson raised its FY2025 earnings estimate for Progress Software to $4.41 per share, up from $4.24, maintaining a "Buy" rating with a target price of $75.00.
• Progress Software reported a Q2 earnings of $1.40 EPS, exceeding expectations by $0.10 and representing a 35.6% revenue increase compared to the same quarter last year.
• Despite a mix of ratings from analysts, the consensus rating stands at a "Moderate Buy" with an average price target of $70.00.

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Investment analysts at DA Davidson lifted their FY2025 earnings estimates for shares of Progress Software in a research note issued on Tuesday, September 30th. DA Davidson analyst L. Schreiner now forecasts that the software maker will earn $4.41 per share for the year, up from their previous estimate of $4.24. DA Davidson currently has a "Buy" rating and a $75.00 target price on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software's Q4 2025 earnings at $1.04 EPS.

PRGS has been the subject of a number of other research reports. Wall Street Zen cut shares of Progress Software from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Jefferies Financial Group decreased their target price on shares of Progress Software from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday. Wedbush reissued an "outperform" rating and set a $75.00 target price on shares of Progress Software in a research report on Friday, June 27th. Citigroup decreased their target price on shares of Progress Software from $64.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $83.00 price target on shares of Progress Software in a report on Friday, June 27th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.00.

Progress Software Trading Up 3.1%

NASDAQ:PRGS opened at $43.93 on Wednesday. Progress Software has a 52 week low of $40.29 and a 52 week high of $70.56. The firm has a 50 day moving average of $44.76 and a 200 day moving average of $53.53. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.02 and a beta of 0.68.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 5.16% and a return on equity of 44.59%. The company had revenue of $237.36 million during the quarter, compared to analysts' expectations of $237.23 million. During the same quarter in the prior year, the company posted $1.09 earnings per share. Progress Software's revenue for the quarter was up 35.6% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CFO Anthony Folger sold 5,529 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the sale, the chief financial officer owned 43,559 shares in the company, valued at $2,307,320.23. This represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rainer Gawlick acquired 1,710 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $43.48 per share, for a total transaction of $74,350.80. Following the purchase, the director directly owned 55,544 shares of the company's stock, valued at approximately $2,415,053.12. This trade represents a 3.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Progress Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in shares of Progress Software by 1.8% in the first quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker's stock worth $546,000 after acquiring an additional 187 shares during the period. LPL Financial LLC increased its stake in shares of Progress Software by 1,161.5% in the first quarter. LPL Financial LLC now owns 48,112 shares of the software maker's stock worth $2,478,000 after acquiring an additional 44,298 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Progress Software by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,409 shares of the software maker's stock worth $433,000 after acquiring an additional 694 shares during the period. Natixis Advisors LLC acquired a new stake in shares of Progress Software in the first quarter worth $693,000. Finally, Swedbank AB increased its stake in shares of Progress Software by 65.8% in the first quarter. Swedbank AB now owns 728,748 shares of the software maker's stock worth $37,538,000 after acquiring an additional 289,122 shares during the period.

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.

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