Progress Software Corporation (NASDAQ:PRGS) Receives Consensus Rating of “Moderate Buy” from Analysts

Progress Software Corporation (NASDAQ:PRGS) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $64.60.

Several equities research analysts recently weighed in on PRGS shares. DA Davidson cut their price objective on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Citigroup boosted their price target on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group dropped their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th.

Key Headlines Impacting Progress Software

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

• Positive Sentiment: Q4 earnings beat and revenue growth — Progress reported Q4 EPS above estimates and revenue up ~18% y/y; premarket reaction lifted the stock as ARR expanded and management pointed to profitable growth. Article Title
• Positive Sentiment: Strong FY‑2026 guidance and AI tailwinds — Management set ambitious FY26 targets (including a ~$1B revenue ambition) and cited AI-driven customer demand as a key growth driver, which underpins the upgraded forward outlook. Article Title
• Positive Sentiment: ARR buildup and strategic reloading — Analysts and coverage of the earnings call highlight recurring revenue expansion and management positioning the company to pursue new deals after building ARR momentum. Article Title
• Neutral Sentiment: Surge in options activity — Unusual options volume suggests traders are positioning for continued volatility or a directional move after the earnings/guidance release; this reflects short-term speculation rather than a fundamental shift. Article Title
• Neutral Sentiment: Multiple valuation and analyst writeups — Post‑move pieces (Zacks, Yahoo valuation check, Seeking Alpha) debate whether the rally already prices in growth; useful for assessing entry points but not immediate drivers. Article Title
• Negative Sentiment: Wedbush trims price target — Wedbush lowered its target from $75 to $65 (still an outperform rating), which reduces upside expectations versus prior analyst optimism and may cap near-term upside for some investors. Article Title

Progress Software Trading Up 0.1%

Shares of Progress Software stock opened at $42.75 on Friday. The firm’s 50 day moving average is $42.26 and its 200 day moving average is $44.25. The firm has a market capitalization of $1.80 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61. Progress Software has a 1 year low of $38.54 and a 1 year high of $65.50. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. 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 forecast that Progress Software will post 4.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently modified their holdings of the business. DLD Asset Management LP grew its stake in shares of Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after purchasing an additional 10,300,000 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Progress Software during the 3rd quarter worth about $16,324,000. Marshall Wace LLP grew its position in shares of Progress Software by 732.6% in the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after buying an additional 314,459 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after buying an additional 275,205 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Progress Software by 26.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after buying an additional 243,950 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.