DA Davidson Lowers Progress Software (NASDAQ:PRGS) Price Target to $50.00

Progress Software (NASDAQ:PRGS) had its target price reduced by equities research analysts at DA Davidson from $70.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. DA Davidson’s target price suggests a potential upside of 71.41% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Citigroup raised their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Jefferies Financial Group reduced their price objective 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. Wedbush lowered their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Finally, Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.60.

Progress Software Price Performance

NASDAQ:PRGS opened at $29.17 on Wednesday. The firm has a market cap of $1.23 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. Progress Software has a 12 month low of $26.85 and a 12 month high of $65.50. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The company’s 50-day moving average price is $38.15 and its two-hundred day moving average price is $41.40.

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

Insider Activity

In related news, EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the sale, the executive vice president directly owned 15,542 shares in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progress Software

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake 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 acquiring an additional 493 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Progress Software during the 2nd quarter valued at $41,000. Kemnay Advisory Services Inc. acquired a new position in shares of Progress Software in the 4th quarter valued at $42,000. Advisors Asset Management Inc. lifted its stake in shares of Progress Software by 135.1% in the 1st 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 during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of Progress Software by 1,042.5% in the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after purchasing an additional 1,178 shares during the last quarter.

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.