Progress Software (NASDAQ:PRGS) Updates Q3 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its third quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.530-1.590 for the period, compared to the consensus earnings per share estimate of 1.390. The company issued revenue guidance of $244.0 million-$250.0 million, compared to the consensus revenue estimate of $249.9 million. Progress Software also updated its FY 2026 guidance to 6.090-6.210 EPS.

Analyst Upgrades and Downgrades

PRGS has been the subject of several research analyst reports. Oppenheimer decreased their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Jefferies Financial Group lowered their price objective on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Citigroup dropped their price objective on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. DA Davidson reduced their target price on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $46.40.

Progress Software Price Performance

Shares of PRGS traded down $0.26 during midday trading on Tuesday, hitting $33.58. 1,811,373 shares of the company traded hands, compared to its average volume of 979,678. Progress Software has a one year low of $23.82 and a one year high of $60.87. The firm has a market cap of $1.41 billion, a P/E ratio of 17.22, a PEG ratio of 1.42 and a beta of 0.83. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a 50-day moving average of $29.92 and a 200-day moving average of $35.04.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.13. The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. As a group, sell-side analysts predict that Progress Software will post 4.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in shares of Progress Software in the fourth quarter worth $42,000. Advisors Asset Management Inc. boosted its stake in Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares during the period. Osaic Holdings Inc. boosted its stake in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after buying an additional 637 shares during the period. iSAM Funds UK Ltd purchased a new position in Progress Software during the third quarter worth about $102,000. Finally, State of Wyoming purchased a new position in Progress Software during the second quarter worth about $137,000.

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.