Progress Software (NASDAQ:PRGS) Given New $65.00 Price Target at Wedbush

Progress Software (NASDAQ:PRGS) had its target price lowered by Wedbush from $75.00 to $65.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Several other research analysts also recently weighed in on PRGS. Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. DA Davidson reduced their price objective on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Jefferies Financial Group dropped their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.60.

Progress Software Trading Up 0.1%

Shares of Progress Software stock opened at $42.75 on Thursday. The firm has a 50-day simple moving average of $42.26 and a two-hundred day simple moving average of $44.25. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.44 and a current ratio of 0.49. Progress Software has a fifty-two week low of $38.54 and a fifty-two week high of $65.50. The company has a market cap of $1.80 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. As a group, equities analysts predict that Progress Software will post 4.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progress Software

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in Progress Software by 0.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock valued at $2,366,000 after buying an additional 241 shares during the period. F m Investments LLC boosted its position in shares of Progress Software by 0.5% in the second quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock worth $3,473,000 after acquiring an additional 271 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Progress Software by 0.8% in the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock worth $2,531,000 after acquiring an additional 333 shares during the last quarter. Integrated Investment Consultants LLC grew its holdings in Progress Software by 4.7% in the second quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock valued at $527,000 after purchasing an additional 372 shares during the period. Finally, Meritage Portfolio Management increased its position in Progress Software by 2.5% during the second quarter. Meritage Portfolio Management now owns 15,302 shares of the software maker’s stock worth $977,000 after purchasing an additional 375 shares during the last quarter.

Key Headlines Impacting Progress Software

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q4 earnings beat and revenue growth — Progress reported Q4 EPS above estimates and revenue up ~18% y/y; premarket reaction lifted the stock as ARR expanded and management pointed to profitable growth. Article Title
• Positive Sentiment: Strong FY‑2026 guidance and AI tailwinds — Management set ambitious FY26 targets (including a ~$1B revenue ambition) and cited AI-driven customer demand as a key growth driver, which underpins the upgraded forward outlook. Article Title
• Positive Sentiment: ARR buildup and strategic reloading — Analysts and coverage of the earnings call highlight recurring revenue expansion and management positioning the company to pursue new deals after building ARR momentum. Article Title
• Neutral Sentiment: Surge in options activity — Unusual options volume suggests traders are positioning for continued volatility or a directional move after the earnings/guidance release; this reflects short-term speculation rather than a fundamental shift. Article Title
• Neutral Sentiment: Multiple valuation and analyst writeups — Post‑move pieces (Zacks, Yahoo valuation check, Seeking Alpha) debate whether the rally already prices in growth; useful for assessing entry points but not immediate drivers. Article Title
• Negative Sentiment: Wedbush trims price target — Wedbush lowered its target from $75 to $65 (still an outperform rating), which reduces upside expectations versus prior analyst optimism and may cap near-term upside for some investors. Article Title

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.