Progress Software (NASDAQ:PRGS) Price Target Lowered to $57.00 at Oppenheimer

Progress Software (NASDAQ:PRGS) had its target price reduced by Oppenheimer from $70.00 to $57.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. DA Davidson cut their target price on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Citigroup lifted their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, Wedbush lowered their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Progress Software Stock Performance

Shares of PRGS stock opened at $25.65 on Tuesday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.24 and a beta of 0.57. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. Progress Software has a one year low of $24.72 and a one year high of $65.50. The company’s 50-day moving average is $37.41 and its 200 day moving average is $41.05.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.03. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 44.35%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Sell-side analysts expect that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. This trade represents a 10.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sundar Subramanian sold 21,594 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the sale, the executive vice president owned 15,542 shares of the company’s stock, valued at approximately $585,156.30. This trade represents a 58.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,546 shares of company stock worth $1,171,546 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of Progress Software

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the period. AQR Capital Management LLC grew its position in shares of Progress Software by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after acquiring an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Progress Software by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Progress Software by 206.8% in the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after purchasing an additional 75,044 shares during the period.

Trending Headlines about Progress Software

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

• Positive Sentiment: Q1 results beat and outlook lifted — Progress reported fiscal Q1 revenue of about $248M and EPS of $1.60 (vs. consensus ~ $1.57), with management raising full‑year earnings guidance on strong demand for AI‑enabled products. This initially supported upside in the shares. PRGS’ Q1 Earnings Surpass Estimates
• Positive Sentiment: Product/AI roadmap support — Progress launched Sitefinity Generative CMS to deliver AI search, personalization and conversational experiences, reinforcing the company’s AI product positioning that management cited on the call. Sitefinity Generative CMS Release
• Neutral Sentiment: Market reaction was mixed intraday — several outlets reported an initial post‑earnings pop and conference‑call takeaways showing improved operating cash flow and margin trends, but that momentum proved short‑lived. Earnings Call Highlights
• Neutral Sentiment: Fundamentals and balance sheet considerations — investors may note low liquidity ratios (current/quick ~0.49) and elevated debt/equity; these magnify sensitivity to sentiment shifts even when quarterly results are solid. No single article
• Negative Sentiment: Analyst downgrades and price‑target cuts pressured the stock — multiple firms trimmed targets and adjusted forecasts after the print, with some lowering ratings (Jefferies cut its target and set a “hold”). Those calls appear to have driven sizeable sell pressure despite the beat. Analysts Cut Forecasts After Q1
• Negative Sentiment: Notable individual cuts — Jefferies lowered its target to $34 and moved to “hold”; Wedbush and Oppenheimer also trimmed targets (to $45 and $57 respectively), which likely amplified selling given the prior higher targets. Benzinga coverage of price targets

Progress Software Company Profile

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.