Progress Software Corporation (NASDAQ:PRGS) Stock Has Consensus Price Target of $52.17 According to Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $52.17.

A number of research analysts have weighed in on PRGS shares. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research note on Friday, September 25th. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Progress Software in a report on Friday. Oppenheimer cut their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new stake in shares of Progress Software during the 2nd quarter worth about $40,780,000. Heron Bay Capital Management bought a new position in Progress Software during the 2nd quarter worth $34,011,000. Dimensional Fund Advisors LP grew its position in shares of Progress Software by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after purchasing an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Progress Software by 133.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after acquiring an additional 698,611 shares during the period. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Progress Software during the 2nd quarter worth approximately $19,149,000.

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 Stock Up 0.9%

Shares of Progress Software stock opened at $36.90 on Wednesday. Progress Software has a 12 month low of $23.82 and a 12 month high of $47.37. The business has a fifty day simple moving average of $42.07 and a 200 day simple moving average of $35.11. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 2.33. The stock has a market cap of $1.51 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.54 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $246.01 million during the quarter, compared to analysts’ expectations of $247.33 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. 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. Research analysts predict that Progress Software will post 4.77 EPS for the current year.

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.