- Surpassing Expectations: Progress Software (PRGS, Financial) reports Q2 Non-GAAP EPS of $1.40, beating estimates by $0.10.
- Substantial Growth: The company achieved a 35.6% year-over-year revenue increase, reaching $237.36 million.
- Positive Outlook: FY 2025 projections estimate revenue between $962 million and $974 million with a non-GAAP EPS of $5.28 to $5.40.
Strong Financial Performance
Progress Software (PRGS) continues to impress investors with its recent financial performance. The company reported a Non-GAAP EPS of $1.40 for Q2, surpassing analyst expectations by $0.10. Revenues also showcased robust growth, recording a 35.6% increase year-over-year to reach $237.36 million.
Encouraging Future Projections
Looking ahead, Progress Software maintains a positive outlook, with fiscal year 2025 revenue projected to range between $962 million and $974 million. Correspondingly, the company's non-GAAP EPS is anticipated to be between $5.28 and $5.40, hinting at sustained growth and stability for shareholders.
Analyst Insights and Price Targets
Wall Street analysts have set a one-year average price target of $72.83 for Progress Software Corp (PRGS, Financial), based on the opinions of six analysts. These targets range from a high of $83.00 to a low of $60.00, implying a potential upside of 14.09% from the current stock price of $63.84. Investors seeking more detailed estimates can visit the Progress Software Corp (PRGS) Forecast page.
Brokerage Recommendations
The consensus recommendation from seven brokerage firms pegs Progress Software Corp's (PRGS, Financial) average brokerage recommendation at 1.9, signifying an "Outperform" status. This rating, on a scale from 1 (Strong Buy) to 5 (Sell), underscores the stock's promising potential in the eyes of analysts.
GuruFocus Valuation
According to GuruFocus estimates, the one-year projected GF Value for Progress Software Corp (PRGS, Financial) is $81.25. This suggests a potential upside of 27.27% from its current trading price of $63.84. The GF Value metric is derived from historical trading multiples, past business growth rates, and future business performance forecasts. For more in-depth insights, visit the Progress Software Corp (PRGS) Summary page.
