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

Progress Software (NASDAQ:PRGS) had its price objective dropped by equities researchers at DA Davidson from $70.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. DA Davidson’s price target would suggest a potential upside of 80.90% from the stock’s current price.

PRGS has been the topic of a number of other reports. Citigroup lifted their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wedbush lowered their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group dropped their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Finally, Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.60.

Progress Software Trading Down 3.9%

Shares of Progress Software stock traded down $1.12 during trading on Wednesday, hitting $27.64. The company’s stock had a trading volume of 345,575 shares, compared to its average volume of 1,016,588. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. Progress Software has a 52 week low of $27.72 and a 52 week high of $65.50. The stock has a 50-day moving average price of $38.67 and a two-hundred day moving average price of $41.58.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same period in the previous year, the business earned $1.33 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Equities research analysts anticipate that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In related news, EVP Sundar Subramanian sold 21,594 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at approximately $585,156.30. This represents a 58.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. The trade was a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,546 shares of company stock worth $1,171,546. 3.60% of the stock is owned by insiders.

Institutional Trading of Progress Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC bought a new position in shares of Progress Software during the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. increased its position in shares of Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Progress Software during the 4th quarter worth $42,000. Osaic Holdings Inc. boosted its holdings in shares of Progress Software by 183.0% in the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Progress Software by 135.1% during the first 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.

About Progress Software

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.