Progress Software (NASDAQ:PRGS) Releases FY 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its FY 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 6.090-6.210 for the period, compared to the consensus estimate of 5.720. The company issued revenue guidance of $990.0M-$1.0 billion, compared to the consensus revenue estimate of $993.7 million. Progress Software also updated its Q3 2026 guidance to 1.530-1.590 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRGS. Citigroup lowered 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. Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday. Jefferies Financial Group decreased their price objective on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Finally, DA Davidson reiterated a “buy” rating and issued a $40.00 price target on shares of Progress Software in a research report on Wednesday. Five equities 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 company. According to MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Progress Software Stock Performance

NASDAQ PRGS opened at $39.16 on Thursday. The firm has a market cap of $1.65 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.43 and a beta of 0.82. Progress Software has a 52-week low of $23.82 and a 52-week high of $56.58. The business’s 50-day moving average price is $30.13 and its 200 day moving average price is $34.92. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.97.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating the consensus estimate of $1.45 by $0.17. Progress Software had a return on equity of 43.54% and a net margin of 8.87%.The firm had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same period in the prior year, the business earned $1.40 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. 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. On average, equities research analysts expect that Progress Software will post 4.68 earnings per share for the current year.

Key Stories Impacting Progress Software

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

• Positive Sentiment: Progress Software beat Q2 expectations with EPS of $1.62 versus estimates around $1.45-$1.49, and revenue of $253.5 million versus about $242.7 million expected, which points to stronger-than-expected demand. Progress Software earnings report
• Positive Sentiment: The company raised full-year FY2026 EPS guidance to $6.09-$6.21, above prior Street expectations, and also issued Q3 guidance that topped consensus, reinforcing confidence in the outlook. Progress Software Q2 results release
• Positive Sentiment: Management and analysts highlighted broad-based strength, including AI-related demand for Progress’ data, workflow and infrastructure platforms, which supports the investment case for future growth. Zacks earnings call highlights
• Positive Sentiment: Brokerage commentary was also supportive: Oppenheimer called the quarter “solid,” while DA Davidson and Guggenheim reaffirmed buy ratings, even as some price targets were adjusted. Oppenheimer on PRGS Q2

Hedge Funds Weigh In On Progress Software

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the period. AQR Capital Management LLC increased its stake in shares of Progress Software by 16.9% during the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after acquiring an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Progress Software by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Progress Software by 75.6% during the first 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 in the last quarter. Finally, Jane Street Group LLC lifted its position in Progress Software by 206.8% in the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 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.