Progress Software’s (PRGS) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Progress Software (NASDAQ:PRGS) in a research note released on Friday morning,Benzinga reports. They currently have a $55.00 target price on the software maker’s stock.

Several other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer reduced their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Finally, Jefferies Financial Group upgraded shares of Progress Software to a “hold” rating in a research note on Friday, September 25th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Performance

PRGS opened at $36.90 on Friday. Progress Software has a 12-month low of $23.82 and a 12-month high of $47.37. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.55 and a beta of 0.89. The business has a 50 day moving average of $42.07 and a 200-day moving average of $35.12. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.33.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The business had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. 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, equities research analysts expect that Progress Software will post 4.77 earnings per share for the current year.

Institutional Investors Weigh In On Progress Software

Several institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its stake in Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Progress Software in the 2nd quarter valued at $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Progress Software during the 1st quarter valued at $26,000. Parallel Advisors LLC lifted its position in shares of Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after acquiring an additional 653 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Progress Software by 192.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after acquiring an additional 877 shares during the period.

Progress Software News Summary

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

• Positive Sentiment: Q3 earnings exceeded expectations. Progress reported adjusted EPS of $1.69, ahead of the $1.49–$1.52 analyst consensus and well above $1.50 a year earlier. The earnings beat is the primary positive catalyst for the shares. Progress Software Beats Q3 Earnings Estimates
• Positive Sentiment: Analyst support improved the outlook. DA Davidson reaffirmed a “Buy” rating and set a $55 price target, implying substantial upside from the stock’s recent level. A broader analyst article also characterized Progress as one of the technology stocks attracting bullish sentiment. DA Davidson Reaffirms Buy Rating
• Positive Sentiment: Progress introduced expanded Agentic RAG capabilities. The new features are designed to connect enterprise knowledge across business systems and support AI agents and large language models without requiring customers to rebuild existing deployments. The announcement reinforces the company’s strategy to benefit from enterprise AI adoption. Progress Software Announces Agentic RAG Capabilities
• Positive Sentiment: Management will highlight AI and accessibility initiatives. Progress ShareFile is scheduled to co-host a session with Applause on AI’s role in accessibility compliance, providing additional visibility for its AI and enterprise software offerings. Progress Software and Applause Accessibility Session
• Neutral Sentiment: Full-year guidance was broadly in line. Progress expects fiscal 2026 adjusted EPS of $6.15–$6.23, compared with a FactSet estimate of $6.18. Fourth-quarter guidance calls for EPS of $1.24–$1.33.
• Negative Sentiment: Revenue slightly missed expectations and declined year over year. Q3 revenue was approximately $246 million versus the $247.3 million consensus, down 1.5% from the prior-year period. Shares initially moved lower following the results, suggesting investors remain focused on limited top-line growth.
• Negative Sentiment: AI execution risks remain. One analysis argued that competitive and adoption risks related to AI warrant a larger valuation discount, tempering the otherwise favorable earnings and analyst signals. Progress Software AI Risk Analysis

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.