Progress Software Analysts Project 67% Upside For Stock: Can Q3 Earnings Spark A Rally
Synopsis
According to Fiscal.ai, the company is expected to report adjusted earnings per share (EPS) of $1.30 and revenue of $240.11 million.
Shares of Progress Software Corp. (PRGS), an artificial intelligence-powered application development platform provider, are in the spotlight ahead of its quarterly results.
The Burlington, Massachusetts-based company is scheduled to report its financial results for the third quarter of the fiscal year 2025 after the market closes on Monday. According to Fiscal.ai, the company is expected to report adjusted earnings per share (EPS) of $1.30, up from $1.26 reported for the same period in the previous year. Revenue is expected to rise more than 34% year-over-year to $240.11 million.
The guidance issued in late June called for adjusted third-quarter EPS of $1.28-$1.34 and revenue of $237 million to $243 million. At that time, the company raised its full-year guidance to $5.28 to $5.40 and $962 million to $974 million, respectively.
Among the key metrics the market would look forward to are the annual recurring revenue (ARR) and adjusted operating margin.
On Stocktwits, retail sentiment toward shifted to ‘bullish’ (73/100) as of early Monday, down from ‘extremely bullish’ the day before. The message volume remained at ‘high’ levels.
During the quarter, Progress Software announced AI-powered threat detection and incident response solutions for organizations, as well as a significant expansion of its AI-powered developer capabilities in its developer toolsets, Progress Telerik and Progress Kendo UI. It also unveiled Progress Federal Solutions, a wholly owned subsidiary established to serve the specialized needs of U.S. federal, defense, and public sector organizations.
Progress Software stock has lost about 36% this year, underperforming the nearly 6% gain for the . Analysts’ average price target for the stock is $83, according to Koyfin. This implies roughly 67% upside from the stock’s Friday close.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.