Equities Analysts Offer Predictions for PRGS FY2025 Earnings

Progress Software Co. (NASDAQ:PRGS) – Research analysts at DA Davidson lowered their FY2025 earnings estimates for shares of Progress Software in a report released on Wednesday, January 22nd. DA Davidson analyst L. Schreiner now forecasts that the software maker will post earnings per share of $4.18 for the year, down from their prior estimate of $4.68. 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 $4.59 per share.

A number of other equities research analysts have also issued reports on the company. Oppenheimer increased their target price on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Citigroup upped their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group raised their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Progress Software presently has an average rating of “Moderate Buy” and a consensus price target of $72.43.

Progress Software Stock Down 2.1 %

Shares of NASDAQ PRGS opened at $53.00 on Friday. The stock has a fifty day moving average price of $65.69 and a 200 day moving average price of $62.39. The company has a market cap of $2.30 billion, a P/E ratio of 33.97, a P/E/G ratio of 6.24 and a beta of 0.93. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a current ratio of 0.81, a quick ratio of 1.23 and a debt-to-equity ratio of 3.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRGS. Assetmark Inc. grew its stake in shares of Progress Software by 10.2% in the third quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock worth $209,000 after purchasing an additional 286 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. grew its position in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after buying an additional 394 shares in the last quarter. GAMMA Investing LLC increased its stake in Progress Software by 76.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after buying an additional 485 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Progress Software in the 2nd quarter worth approximately $27,000.

About Progress Software

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.