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

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $52.17.

PRGS has been the topic of a number of research reports. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research report on Friday, September 25th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Progress Software in a research report on Friday. Finally, Oppenheimer decreased their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st.

More Progress Software News

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 Price Performance

Shares of NASDAQ PRGS opened at $36.90 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.33. Progress Software has a 52 week low of $23.82 and a 52 week high of $47.37. The firm has a 50-day moving average price of $42.07 and a 200 day moving average price of $35.12. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share 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 42.91%. The company had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Progress Software will post 4.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently bought and sold shares of PRGS. The Manufacturers Life Insurance Company acquired a new stake in shares of Progress Software during the second quarter valued at $40,780,000. Heron Bay Capital Management acquired a new position in Progress Software in the 2nd quarter valued at about $34,011,000. Dimensional Fund Advisors LP lifted its holdings in Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after purchasing an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Progress Software by 133.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Progress Software during the second quarter worth about $19,149,000.

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.