Oppenheimer Has Lowered Expectations for Progress Software (NASDAQ:PRGS) Stock Price

Progress Software (NASDAQ:PRGS) had its target price decreased by stock analysts at Oppenheimer from $70.00 to $57.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 116.48% from the company’s previous close.

Several other research analysts have also issued reports on PRGS. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Jefferies Financial Group lowered their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Citigroup increased 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. Wedbush cut their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Finally, DA Davidson decreased their price target 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. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Progress Software Stock Performance

PRGS stock traded down $1.94 during midday trading on Tuesday, hitting $26.33. The stock had a trading volume of 752,806 shares, compared to its average volume of 1,050,489. Progress Software has a 52 week low of $26.23 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 stock has a 50-day simple moving average of $37.67 and a 200 day simple moving average of $41.17. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.22 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.03. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts anticipate that Progress Software will post 4.01 earnings per share for the current year.

Insider Activity

In related news, EVP Sundar Subramanian sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. This represents a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,546 shares of company stock worth $1,171,546 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Progress Software

Several large investors have recently made changes to their positions in PRGS. Hantz Financial Services Inc. raised its holdings in shares of Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after buying an additional 493 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Progress Software during the 2nd quarter worth about $41,000. Kemnay Advisory Services Inc. acquired a new stake in Progress Software in the 4th quarter valued at about $42,000. Advisors Asset Management Inc. increased its position in Progress Software by 135.1% in the 1st 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 in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Progress Software by 1,042.5% in the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,178 shares during the last quarter.

Progress Software News Roundup

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

• Positive Sentiment: Q1 results beat consensus and management raised EPS guidance — Progress reported revenue of roughly $247.8–$248.0M (up ~4.1% YoY) and GAAP EPS that topped the Street; management also raised its EPS outlook, signaling confidence in margins and free cash flow. Progress Software Reports Fiscal First Quarter 2026
• Positive Sentiment: Shares reacted positively in aftermarket/early trading after the print — multiple outlets note a share bump following the earnings beat and guidance lift, reflecting investor enthusiasm for the quarter’s top-line stability and margin improvement. Progress Software beats Q1, guidance estimates, shares jump 5%
• Positive Sentiment: New product launch targets AI-driven demand — Progress released Sitefinity Generative CMS to deliver AI-powered search, personalization and conversational experiences with built‑in governance, positioning the company to capture enterprise AI DX (digital experience) spend. This is strategically aligned with market appetite for secure, governable AI tools. Sitefinity Generative CMS press release
• Neutral Sentiment: Earnings call and highlights provide color on product mix and cost control — Transcripts and highlights show management emphasizing enterprise renewals, margin expansion and cash generation but offer limited new guidance details beyond the raised EPS target. Useful for modeling revenue cadence but no dramatic guidance change. Q1 earnings highlights
• Neutral Sentiment: Full call transcript is available for deeper read — analysts and investors can review Q&A on churn, renewal timing and product roadmap to refine estimates. Earnings call transcript
• Negative Sentiment: Insider selling and mixed analyst expectations — Recent filings show insider sales and some analysts/quant services note institutional trimming and varied price targets; that could cap near-term upside if volumes continue. QuiverQuant summary (insider/holding data)
• Negative Sentiment: Balance sheet and valuation risks — Progress carries elevated leverage (debt/equity ~2.18) and liquidity ratios below 1.0, which investors may view as a risk if growth stalls or in a macro downturn; this can limit multiple expansion despite AI tailwinds. No external link

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.