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

Progress Software (NASDAQ:PRGS) issued an update on its second quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.470-1.530 for the period, compared to the consensus 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

PRGS has been the subject of a number of recent research reports. DA Davidson decreased their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Wedbush reduced their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 1st. Jefferies Financial Group dropped their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Finally, Oppenheimer lowered their price objective 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 given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Progress Software Stock Down 4.6%

Shares of PRGS stock traded down $1.33 during trading hours on Thursday, hitting $27.42. 1,171,343 shares of the company’s stock traded hands, compared to its average volume of 1,133,054. The stock’s fifty day simple moving average is $35.59 and its two-hundred day simple moving average is $40.43. Progress Software has a 12-month low of $23.82 and a 12-month high of $65.50. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.10 and a beta of 0.76. 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 announced its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.03. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. On average, analysts expect that Progress Software will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 6,000 shares of the company’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 completion of the transaction, the chief financial officer owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This represents a 10.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sundar Subramanian sold 21,594 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the completion of the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $585,156.30. This 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 valued at $1,171,546 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Progress Software by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after buying an additional 20,669 shares during the period. Geode Capital Management LLC increased its stake in shares of Progress Software by 0.6% during the fourth 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in Progress Software by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock worth $39,999,000 after acquiring an additional 24,659 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 241,515 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Progress Software by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 558,855 shares of the software maker’s stock valued at $24,008,000 after purchasing an additional 59,649 shares during the last quarter.

Progress Software Company Profile

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.