Progress Software (NASDAQ:PRGS) Given Buy Rating at DA Davidson

Progress Software (NASDAQ:PRGS)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a research note issued on Friday, Benzinga reports. They currently have a $55.00 price objective on the software maker’s stock. DA Davidson’s target price points to a potential upside of 49.46% from the company’s current price.

A number of other equities research analysts have also issued reports on PRGS. 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 reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Jefferies Financial Group raised shares of Progress Software to a “hold” rating in a research report on Friday, September 25th. Finally, Oppenheimer dropped their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Progress Software Trading Down 1.1%

Progress Software stock traded down $0.40 during trading hours on Friday, reaching $36.80. The stock had a trading volume of 156,736 shares, compared to its average volume of 846,225. The stock has a market cap of $1.50 billion, a PE ratio of 16.94, a PEG ratio of 1.56 and a beta of 0.89. Progress Software has a 52 week low of $23.82 and a 52 week high of $47.25. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.80 and a quick ratio of 0.80. The company has a fifty day simple moving average of $41.98 and a 200-day simple moving average of $35.18.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping 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%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $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. Analysts forecast that Progress Software will post 4.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Progress Software

Large investors have recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its stake in shares of Progress Software by 1.3% in the second quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock worth $948,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Progress Software by 23.9% in the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock worth $71,000 after acquiring an additional 410 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of Progress Software by 4.4% in the second quarter. Wedbush Securities Inc. now owns 12,884 shares of the software maker’s stock worth $433,000 after acquiring an additional 545 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after buying an additional 653 shares during the last quarter.

About Progress Software

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.