Research Analysts Issue Forecasts for PRGS FY2026 Earnings

Progress Software Corporation (NASDAQ:PRGS) – Investment analysts at DA Davidson decreased their FY2026 earnings per share (EPS) estimates for Progress Software in a report issued on Tuesday, September 30th. DA Davidson analyst L. Schreiner now anticipates that the software maker will earn $4.40 per share for the year, down from their prior forecast of $4.53. 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 $4.01 per share.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 5.16% and a return on equity of 43.68%. The company had revenue of $237.36 million during the quarter, compared to analyst estimates of $237.23 million. During the same period last year, the firm posted $1.09 EPS. Progress Software’s revenue for the quarter was up 35.6% compared to the same quarter last year.

Several other equities research analysts have also commented on PRGS. Citigroup lowered their price target on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Wall Street Zen cut Progress Software from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Guggenheim reaffirmed a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Friday, June 27th. Jefferies Financial Group decreased their price target on Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Progress Software Stock Up 2.4%

PRGS stock opened at $46.32 on Thursday. The company has a market capitalization of $1.99 billion, a P/E ratio of 42.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.67. Progress Software has a 12 month low of $40.29 and a 12 month high of $70.56. The firm’s fifty day simple moving average is $44.60 and its 200-day simple moving average is $53.41. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.43.

Insiders Place Their Bets

In other Progress Software news, Director Rainer Gawlick acquired 1,710 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $43.48 per share, with a total value of $74,350.80. Following the completion of the acquisition, the director owned 55,544 shares in the company, valued at approximately $2,415,053.12. This trade represents a 3.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Krall acquired 5,125 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $48.90 per share, with a total value of $250,612.50. Following the completion of the transaction, the director directly owned 100,090 shares of the company’s stock, valued at approximately $4,894,401. This represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progress Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maseco LLP purchased a new stake in shares of Progress Software during the second quarter worth about $28,000. Quaker Wealth Management LLC increased its stake in Progress Software by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after buying an additional 900 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Progress Software during the second quarter valued at approximately $41,000. Advisors Asset Management Inc. raised its holdings in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after acquiring an additional 637 shares in the last quarter.

Progress Software Company Profile

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.