Progress Software (NASDAQ:PRGS) Price Target Cut to $45.00 by Analysts at Wedbush

Progress Software (NASDAQ:PRGS) had its price target reduced by equities researchers at Wedbush from $65.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Wedbush’s target price indicates a potential upside of 72.41% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup lifted their price target on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. DA Davidson reduced their price objective on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Jefferies Financial Group decreased their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Finally, Oppenheimer cut their price target on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a report on Tuesday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average price target of $56.67.

Progress Software Stock Down 7.7%

NASDAQ PRGS traded down $2.17 during trading on Tuesday, reaching $26.10. 797,806 shares of the company’s stock were exchanged, compared to its average volume of 1,050,489. The company has a 50 day moving average price of $37.67 and a two-hundred day moving average price of $41.17. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $1.10 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. Progress Software has a 1 year low of $26.23 and a 1 year high of $65.50.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 EPS for the quarter, beating the consensus estimate of $1.57 by $0.03. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $246.40 million. During the same period in the prior year, the firm posted $1.31 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Activity at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president owned 15,542 shares of the company’s stock, valued at approximately $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction 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 directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,546 shares of company stock valued at $1,171,546 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Progress Software

A number of hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in Progress Software in the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. increased its stake 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 acquiring an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Progress Software during the 4th quarter valued at about $42,000. Osaic Holdings Inc. grew its holdings in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after purchasing an additional 637 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares during the last quarter.

Key Stories Impacting Progress Software

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

• Positive Sentiment: Q1 results beat consensus and management raised EPS guidance — Progress reported revenue of roughly $247.8–$248.0M (up ~4.1% YoY) and GAAP EPS that topped the Street; management also raised its EPS outlook, signaling confidence in margins and free cash flow. Progress Software Reports Fiscal First Quarter 2026
• Positive Sentiment: Shares reacted positively in aftermarket/early trading after the print — multiple outlets note a share bump following the earnings beat and guidance lift, reflecting investor enthusiasm for the quarter’s top-line stability and margin improvement. Progress Software beats Q1, guidance estimates, shares jump 5%
• Positive Sentiment: New product launch targets AI-driven demand — Progress released Sitefinity Generative CMS to deliver AI-powered search, personalization and conversational experiences with built‑in governance, positioning the company to capture enterprise AI DX (digital experience) spend. This is strategically aligned with market appetite for secure, governable AI tools. Sitefinity Generative CMS press release
• Neutral Sentiment: Earnings call and highlights provide color on product mix and cost control — Transcripts and highlights show management emphasizing enterprise renewals, margin expansion and cash generation but offer limited new guidance details beyond the raised EPS target. Useful for modeling revenue cadence but no dramatic guidance change. Q1 earnings highlights
• Neutral Sentiment: Full call transcript is available for deeper read — analysts and investors can review Q&A on churn, renewal timing and product roadmap to refine estimates. Earnings call transcript
• Negative Sentiment: Insider selling and mixed analyst expectations — Recent filings show insider sales and some analysts/quant services note institutional trimming and varied price targets; that could cap near-term upside if volumes continue. QuiverQuant summary (insider/holding data)
• Negative Sentiment: Balance sheet and valuation risks — Progress carries elevated leverage (debt/equity ~2.18) and liquidity ratios below 1.0, which investors may view as a risk if growth stalls or in a macro downturn; this can limit multiple expansion despite AI tailwinds. No external link

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.