Progress Software Corporation (NASDAQ:PRGS) Stock Has Consensus Price Target of $52.17

Shares of Progress Software Corporation (NASDAQ:PRGS) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $52.17.

A number of analysts have recently issued reports on PRGS shares. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research report on Friday, September 25th. Oppenheimer lowered their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Guggenheim reissued a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Finally, DA Davidson reissued a “buy” rating and issued a $55.00 price target on shares of Progress Software in a research report on Friday, October 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. increased its holdings in Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Progress Software in the second quarter worth $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Progress Software during the first quarter worth $26,000. Parallel Advisors LLC grew its holdings in shares of Progress Software by 142.0% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after buying an additional 877 shares in the last quarter.

Progress Software Price Performance

Shares of Progress Software stock opened at $37.20 on Wednesday. The firm has a fifty day simple moving average of $41.98 and a 200-day simple moving average of $35.18. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.33. Progress Software has a 1-year low of $23.82 and a 1-year high of $47.31. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.56 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. The business had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. Progress Software’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. On average, sell-side analysts expect that Progress Software will post 4.78 earnings per share for the current year.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.