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

Progress Software (NASDAQ:PRGS) issued an update on its FY 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.090-6.210 for the period, compared to the consensus EPS 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.

Progress Software Stock Down 0.8%

PRGS opened at $33.58 on Wednesday. Progress Software has a 12 month low of $23.82 and a 12 month high of $60.87. 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 market cap of $1.41 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.45 and a beta of 0.83. The stock’s 50 day moving average price is $29.97 and its 200 day moving average price is $34.96.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.17. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the previous year, the business earned $1.40 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. 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, research analysts predict that Progress Software will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PRGS. Jefferies Financial Group cut 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 note on Tuesday, March 31st. Wedbush lowered their target price on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Oppenheimer dropped their price target on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Finally, Citigroup lowered their price objective on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $46.40.

Progress Software News Summary

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, while revenue of $253.47 million topped forecasts of about $242.74 million. Progress Software Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: The company lifted its FY2026 EPS outlook to $6.09-$6.21 and Q3 EPS guidance to $1.53-$1.59, both above Wall Street estimates, suggesting management sees continued momentum. Progress forecasts FY2026 EPS of $6.09-$6.21 while targeting net leverage of ~2.8x
• Positive Sentiment: Management said it is targeting net leverage of about 2.8x, which may reassure investors focused on balance-sheet discipline and cash generation. Progress forecasts FY2026 EPS of $6.09-$6.21 while targeting net leverage of ~2.8x
• Positive Sentiment: Progress also announced a new product, Progress Chef Enterprise Management for NVIDIA DGX Spark, reinforcing its AI-related software positioning and potential growth narrative. Progress Software Launches Progress Chef Enterprise Management for NVIDIA DGX Spark
• Neutral Sentiment: Commentary on the stock’s valuation and debt profile suggests PRGS still trades at a low multiple after a year of weakness, but that view is more interpretive than a direct catalyst. Progress Software: Disciplined Debt As Company Looks Ahead To Next Deal
• Neutral Sentiment: Additional market coverage compared PRGS with another company, but it does not appear to be a meaningful standalone driver for the shares. Analyzing Progress Software (NASDAQ:PRGS) and Wetouch Technology (NASDAQ:WETH)

Institutional Investors Weigh In On Progress Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of Progress Software by 61.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,736 shares of the software maker’s stock worth $375,000 after acquiring an additional 3,325 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in Progress Software by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,768 shares of the software maker’s stock worth $522,000 after purchasing an additional 2,110 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Progress Software in the 4th quarter worth about $290,000. Mackenzie Financial Corp raised its holdings in Progress Software by 174.3% during the 4th quarter. Mackenzie Financial Corp now owns 82,131 shares of the software maker’s stock worth $3,562,000 after buying an additional 52,192 shares during the period. Finally, XTX Topco Ltd lifted its stake in Progress Software by 71.2% during the fourth quarter. XTX Topco Ltd now owns 16,264 shares of the software maker’s stock valued at $699,000 after buying an additional 6,762 shares in 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.