Progress Software (NASDAQ:PRGS) Updates Q2 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its second quarter 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 1.470-1.530 for the period, compared to the consensus earnings per share estimate of 1.270. The company issued revenue guidance of $240.0 million-$246.0 million, compared to the consensus revenue estimate of $241.1 million. Progress Software also updated its FY 2026 guidance to 5.910-6.030 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRGS. Citigroup decreased their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 1st. 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 report on Wednesday, March 25th. Wedbush cut their target price on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, Oppenheimer cut their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

Progress Software Stock Performance

PRGS stock traded down $1.61 during trading on Thursday, hitting $27.14. The company had a trading volume of 550,487 shares, compared to its average volume of 1,122,514. The firm has a market cap of $1.14 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.10 and a beta of 0.76. Progress Software has a 1-year low of $23.82 and a 1-year high of $65.50. The firm has a 50-day moving average price of $35.59 and a 200-day moving average price of $40.43. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 1.97.

Progress Software (NASDAQ:PRGS) last issued 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 analysts’ expectations of $246.40 million. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The firm’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. On average, analysts expect that Progress Software will post 4.01 earnings per share for the current year.

Insider Activity

In related news, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction dated 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 owned 48,802 shares in the company, valued at $1,952,080. The trade was a 10.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the transaction, 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 sold a total of 30,546 shares of company stock worth $1,171,546 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Progress Software by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after purchasing an additional 20,669 shares during the period. Geode Capital Management LLC increased its position in Progress Software by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after purchasing an additional 6,095 shares during the period. The Manufacturers Life Insurance Company increased its position in Progress Software by 2.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock worth $39,999,000 after purchasing an additional 24,659 shares during the period. Goldman Sachs Group Inc. increased its position in Progress Software by 75.6% during 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Progress Software by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 558,855 shares of the software maker’s stock worth $24,008,000 after purchasing an additional 59,649 shares during the period.

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.