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

Progress Software (NASDAQ:PRGS)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research note issued on Friday, Benzinga reports. They currently have a $55.00 target price on the software maker’s stock. DA Davidson’s price target indicates a potential upside of 51.79% from the company’s previous close.

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

Progress Software Stock Down 0.9%

Shares of PRGS stock traded down $0.34 during midday trading on Friday, reaching $36.23. 216,729 shares of the stock were exchanged, compared to its average volume of 846,910. The company’s 50 day moving average is $42.09 and its two-hundred day moving average is $35.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm has a market cap of $1.49 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. Progress Software has a 1 year low of $23.82 and a 1 year high of $47.37.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data 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. The business had revenue of $246.01 million for the quarter, compared to analysts’ expectations of $247.33 million. Progress Software had a net margin of 9.24% and a return on equity of 43.68%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. 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 predict that Progress Software will post 4.77 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software in the 1st quarter worth approximately $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Progress Software in the 2nd quarter valued at $28,000. Parallel Advisors LLC raised its stake in Progress Software by 142.0% in the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after acquiring an additional 653 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after buying an additional 493 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after acquiring an additional 877 shares during the period.

About Progress Software

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.