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

Progress Software (NASDAQ:PRGS)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $55.00 price objective on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 52.15% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Oppenheimer dropped their price objective 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. Jefferies Financial Group upgraded shares of Progress Software to a “hold” rating in a research note on Friday, September 25th. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Performance

Shares of PRGS stock traded down $0.43 during midday trading on Friday, hitting $36.15. 379,746 shares of the company were exchanged, compared to its average volume of 847,887. The firm has a market capitalization of $1.48 billion, a P/E ratio of 16.79, a PEG ratio of 1.68 and a beta of 0.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50 day moving average price is $42.09 and its two-hundred day moving average price is $35.10. Progress Software has a 52 week low of $23.82 and a 52 week high of $47.37.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Wednesday, September 30th. The software maker reported $1.69 EPS for the quarter, topping the consensus estimate of $1.52 by $0.17. Progress Software had a net margin of 9.24% and a return on equity of 43.68%. The business had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. During the same quarter in the previous year, the firm posted $0.44 EPS. Progress Software’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. As a group, equities research analysts anticipate that Progress Software will post 4.77 earnings per share for the current year.

Institutional Investors Weigh In On Progress Software

Institutional investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division raised its stake in 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 valued at $948,000 after purchasing an additional 357 shares in the last quarter. GAMMA Investing LLC lifted its position in Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock valued at $71,000 after purchasing an additional 410 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Progress Software by 194.1% during the fourth 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. Wedbush Securities Inc. lifted its position in Progress Software by 4.4% during the second quarter. Wedbush Securities Inc. now owns 12,884 shares of the software maker’s stock valued at $433,000 after purchasing an additional 545 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Progress Software by 142.0% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after purchasing an additional 653 shares during the last quarter.

Progress Software News Roundup

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

• Positive Sentiment: Progress reported fiscal Q3 adjusted EPS of $1.69, exceeding analyst estimates by $0.17. GAAP net income rose 17% year over year, operating income increased 6%, and operating cash flow climbed 20% to $88 million. Progress Software Q3 earnings and guidance
• Positive Sentiment: The company raised or reaffirmed its fiscal 2026 adjusted EPS outlook to $6.15-$6.23, broadly in line with the $6.18 FactSet consensus and above some earlier estimates. The outlook incorporates contributions from the Domo AI and Data Platform acquisition. Progress Software fiscal 2026 outlook
• Positive Sentiment: Progress launched new Agentic RAG capabilities designed to connect enterprise data across business systems for AI agents and large language models. The release supports management’s strategy to reposition the company as an AI infrastructure provider. Progress Software Agentic RAG announcement
• Neutral Sentiment: Management highlighted an AI-led shift and the Domo acquisition on its earnings call. Investors are looking for evidence that the transaction can accelerate growth and improve recurring revenue, which rose only 1% year over year on a constant-currency basis. Progress Software earnings call highlights
• Negative Sentiment: Q3 revenue of $246 million came in slightly below the $247.3 million consensus and declined about 1.5%-2% year over year. More importantly, fourth-quarter adjusted EPS guidance of $1.24-$1.33 was below the $1.37 analyst estimate, creating a near-term earnings concern despite projected revenue of $297-$305 million. Progress Software Q4 2026 earnings guidance
• Negative Sentiment: Some investors and analysts remain concerned that AI-related execution and integration risks warrant a lower valuation discount, particularly while core revenue growth remains muted. 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.