Progress Software (NASDAQ:PRGS) Price Target Lowered to $50.00 at DA Davidson

Progress Software (NASDAQ:PRGS) had its price objective lowered by DA Davidson from $70.00 to $50.00 in a report issued on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the software maker’s stock.

Several other research analysts also recently issued reports on PRGS. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Wedbush cut their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price target 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. Finally, Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average price target of $60.60.

Progress Software Stock Down 5.0%

PRGS stock opened at $27.33 on Wednesday. Progress Software has a 52 week low of $26.85 and a 52 week high of $65.50. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.15 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.26 and a beta of 0.57. The company’s 50-day moving average price is $38.38 and its 200 day moving average price is $41.48.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same quarter in the previous year, the company earned $1.33 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. 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. On average, research analysts expect that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insider Activity at Progress Software

In related news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was 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 in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,546 shares of company stock worth $1,171,546 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PRGS. DLD Asset Management LP grew its stake in shares of Progress Software by 31.5% during the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after buying an additional 10,300,000 shares during the period. LSV Asset Management raised its position in shares of Progress Software by 171.2% in the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after buying an additional 619,800 shares during the period. Qube Research & Technologies Ltd acquired a new position in Progress Software in the third quarter valued at $16,324,000. Marshall Wace LLP grew its position in Progress Software by 732.6% during the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after acquiring an additional 314,459 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Progress Software by 145.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after acquiring an additional 275,205 shares during the last quarter.

More Progress Software News

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

• Positive Sentiment: Private-equity interest: Francisco Partners and Vista Equity reportedly made a $48 per-share cash offer for Progress, which provides a near-term valuation floor and potential buyout upside relative to the current market price. This deal talk can support the share price and attract takeover-arbitrage trades. Francisco Partners and Vista Equity Partners $48-Per-Share Cash Offer for Progress Software
• Positive Sentiment: Product/market execution: Progress announced eIDAS-supported AES and QES for ShareFile, strengthening its compliance footprint in the UK/EU and boosting the product’s appeal for regulated document workflows and AI-powered use cases—helpful for revenue growth and enterprise adoption narratives. Progress ShareFile Adds eIDAS-Supported e-Signatures
• Neutral Sentiment: Analyst action: DA Davidson trimmed its price target from $70 to $50 but kept a “buy” rating, which is a mixed signal—reduces upside expectations from earlier levels but maintains analyst support for the name. That combination can limit downside but also dampen enthusiasm. DA Davidson price target lowered
• Neutral Sentiment: Short-interest data published recently appears inconsistent/erroneous (reports list zero shares with NaN changes and 0.0 days-to-cover), so there’s no clear confirmed short-squeeze or heavy shorting signal from those filings; treat these entries with caution.
• Negative Sentiment: Investor concern on operations: A Seeking Alpha preview flagged “slowing down operations” as a concern ahead of Q1 results, which can fuel caution among growth-focused investors and traders. Progress Software Q1 Earnings Preview
• Negative Sentiment: Price/technical weakness: Coverage noted Progress hit a new one-year low, which can trigger momentum selling, stop-losses and technical-based outflows as the stock trades well below its 50- and 200-day averages. Progress Software Hits New 1-Year Low

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.