Progress Software (PRGS) Issues Q1 Earnings Guidance
Progress Software (NASDAQ:PRGS) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.46-0.48 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.38. The company issued revenue guidance of $90-93 million, compared to the consensus revenue estimate of $91.95 million.Progress Software also updated its FY18 guidance to $2.29-2.35 EPS.
A number of research analysts have recently weighed in on the stock. Benchmark reissued a buy rating and set a $47.00 target price (up from $42.00) on shares of Progress Software in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Progress Software from a buy rating to a hold rating in a research report on Saturday, September 23rd. Wedbush reissued a neutral rating and set a $32.00 target price on shares of Progress Software in a research report on Monday, September 18th. Finally, ValuEngine downgraded shares of Progress Software from a buy rating to a hold rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $40.33.
Progress Software (NASDAQ PRGS) traded down $0.05 on Wednesday, reaching $43.67. 312,190 shares of the company traded hands, compared to its average volume of 319,644. The company has a market cap of $2,090.00, a P/E ratio of -40.44 and a beta of 0.65. Progress Software has a 52 week low of $27.16 and a 52 week high of $44.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27.
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Progress Software Company Profile
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
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