DA Davidson Has Pessimistic Outlook of PRGS FY2025 Earnings

Progress Software Co. (NASDAQ:PRGS) – Research analysts at DA Davidson reduced their FY2025 earnings per share estimates for Progress Software in a report issued on Wednesday, January 22nd. DA Davidson analyst L. Schreiner now expects that the software maker will earn $4.18 per share for the year, down from their prior forecast of $4.68. DA Davidson has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.59 per share.

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

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $53.00 on Friday. The stock 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 twelve month low of $48.00 and a twelve month high of $70.56. The stock has a 50 day moving average of $65.69 and a two-hundred day moving average of $62.39. 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 large investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in Progress Software by 45,918.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after purchasing an additional 1,140,626 shares during the period. Leuthold Group LLC boosted its holdings in shares of Progress Software by 958.1% in the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock valued at $27,605,000 after purchasing an additional 371,026 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock valued at $39,728,000 after buying an additional 251,125 shares during the period. Marshall Wace LLP increased its holdings in shares of Progress Software by 530.5% during the 2nd quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock worth $14,274,000 after buying an additional 221,336 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Progress Software by 42.8% in the 3rd quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after buying an additional 147,457 shares during the period.

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.