Oppenheimer Has Lowered Expectations for Progress Software (NASDAQ:PRGS) Stock Price

Progress Software (NASDAQ:PRGS) had its price target cut by research analysts at Oppenheimer from $57.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price indicates a potential upside of 48.90% from the stock’s previous close.

PRGS has been the topic of a number of other research reports. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Jefferies Financial Group reduced their price target on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. DA Davidson cut their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Wedbush dropped their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Finally, Citigroup lowered their target price 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Progress Software Price Performance

NASDAQ:PRGS opened at $33.58 on Wednesday. The firm’s fifty day moving average is $29.97 and its two-hundred day moving average is $34.96. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.45 and a beta of 0.83. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.47. Progress Software has a one year low of $23.82 and a one year high of $60.87.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping 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 analyst estimates of $242.74 million. During the same period last year, the company earned $1.40 earnings per share. Progress Software’s revenue for the quarter 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. Research analysts expect that Progress Software will post 4.68 EPS for the current year.

Institutional Trading of Progress Software

Several institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares during the period. AQR Capital Management LLC grew its stake in shares of Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after buying an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after purchasing an additional 241,515 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of 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 in the last quarter.

More Progress Software News

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)

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.