Q1 Earnings Estimate for Progress Software Issued By Wedbush

Progress Software Co. (NASDAQ:PRGS) – Analysts at Wedbush decreased their Q1 2025 earnings per share (EPS) estimates for shares of Progress Software in a report issued on Wednesday, January 22nd. Wedbush analyst D. Ives now anticipates that the software maker will earn $0.79 per share for the quarter, down from their previous estimate of $1.00. The consensus estimate for Progress Software’s current full-year earnings is $4.59 per share. Wedbush also issued estimates for Progress Software’s Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $4.00 EPS and Q2 2026 earnings at $1.07 EPS.

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

Progress Software Trading Down 2.1 %

PRGS opened at $53.00 on Monday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 6.24 and a beta of 0.93. The company has a quick ratio of 1.23, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a twelve month low of $48.00 and a twelve month high of $70.56. The company has a 50-day simple moving average of $65.69 and a 200 day simple moving average of $62.46.

Institutional Investors Weigh In On Progress Software

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in shares of Progress Software by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 94,066 shares of the software maker’s stock valued at $5,104,000 after acquiring an additional 2,118 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Progress Software in the second quarter valued at $27,000. Sei Investments Co. raised its position in Progress Software by 374.0% during the 2nd quarter. Sei Investments Co. now owns 39,786 shares of the software maker’s stock worth $2,159,000 after purchasing an additional 31,393 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Progress Software by 98.8% during the 2nd quarter. AQR Capital Management LLC now owns 38,950 shares of the software maker’s stock worth $2,113,000 after buying an additional 19,359 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Progress Software in the 2nd quarter valued at about $1,378,000.

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.