Wedbush Issues Pessimistic Forecast for Progress Software (NASDAQ:PRGS) Stock Price

Progress Software (NASDAQ:PRGS) had its price objective decreased by analysts at Wedbush from $75.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Wedbush’s price target indicates a potential upside of 53.19% from the company’s previous close.

Several other research firms have also commented on PRGS. Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group reduced their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. DA Davidson lowered their price objective on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Finally, Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Price Performance

Progress Software stock opened at $42.43 on Thursday. The firm has a market cap of $1.79 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.44. The stock’s fifty day moving average price is $42.27 and its two-hundred day moving average price is $44.18. Progress Software has a one year low of $38.54 and a one year high of $65.50.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same period in the prior year, the firm posted $1.33 EPS. Progress Software’s quarterly revenue was up 17.5% on a year-over-year basis. 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. As a group, research analysts expect that Progress Software will post 4.01 EPS for the current fiscal year.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Maseco LLP bought a new position in shares of Progress Software in the 2nd quarter valued at $28,000. Quaker Wealth Management LLC increased its holdings in Progress Software by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after purchasing an additional 900 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Progress Software in the second quarter valued at about $41,000. Advisors Asset Management Inc. boosted its stake in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after purchasing an additional 637 shares during the last quarter.

More Progress Software News

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

• Positive Sentiment: Q4 earnings beat and guidance — Progress topped EPS (1.51 vs. 1.31 est.) and raised/issued FY‑2026 and Q1 guidance, supporting a rally tied to profitable growth. Read More.
• Positive Sentiment: AI demand cited as a growth driver — Multiple outlets attribute the stock’s recent pop to accelerating customer adoption of Progress’s application and AI tooling. Read More.
• Positive Sentiment: Earnings call detail and investor interest — The transcript and call notes highlight profitable growth, which underpins valuation support and institutional interest. Read More.
• Positive Sentiment: Analyst sentiment supportive — Analysts’ consensus rating is “Moderate Buy,” reinforcing investor confidence even after recent volatility. Read More.
• Positive Sentiment: Options activity surged — Unusual options volume suggests speculative/hedging flows around the post-earnings move, which can amplify intraday swings. Read More.
• Neutral Sentiment: Analyst price target cut but rating kept — Wedbush trimmed its target from $75 to $65 while maintaining an outperform stance; this reduces upside expectations but keeps buy conviction. Read More.
• Neutral Sentiment: Valuation and peer comparison notes — Several analyses (Zacks, Yahoo valuation checks) discuss PRGS relative to peers (e.g., INTU) and whether the post-earnings level still offers value. These are background items for longer-term investors. Read More.
• Neutral Sentiment: Coverage and commentary pieces — Market commentary and op-eds (Seeking Alpha, Kalkine) praise product reliability and disciplined execution; useful for sentiment but less likely to move price alone. Read More.

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.