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

Progress Software (NASDAQ:PRGS) had its price objective cut by analysts at Oppenheimer from $70.00 to $57.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price points to a potential upside of 127.18% from the stock’s current price.

Several other research firms also recently commented on PRGS. DA Davidson cut their price objective on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Wedbush dropped their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Jefferies Financial Group cut their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Citigroup lifted their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Progress Software Trading Down 2.2%

Shares of PRGS stock opened at $25.09 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 1.97. The firm has a market cap of $1.06 billion, a P/E ratio of 12.87, a PEG ratio of 1.11 and a beta of 0.76. The company has a 50 day moving average of $37.06 and a 200-day moving average of $40.94. Progress Software has a 12-month low of $23.82 and a 12-month high of $65.50.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data 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 return on equity of 43.67% and a net margin of 8.61%.The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $246.40 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. Progress Software’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Progress Software will post 4.01 earnings per share for the current year.

Insider Activity at Progress Software

In related news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total value of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $594,947.76. This represents a 9.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,546 shares of company stock worth $1,171,546 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Progress Software

A number of large investors have recently added to or reduced their stakes in PRGS. Diamond Hill Capital Management Inc. lifted its position in 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 purchasing an additional 275,205 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Progress Software by 26.1% during 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 purchasing an additional 243,950 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Progress Software by 19.4% in the third quarter. Segall Bryant & Hamill LLC now owns 643,145 shares of the software maker’s stock worth $28,253,000 after purchasing an additional 104,611 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Progress Software in the third quarter worth $5,175,000. Finally, LSV Asset Management increased its stake in shares of Progress Software by 183.0% in the third quarter. LSV Asset Management now owns 362,000 shares of the software maker’s stock worth $15,903,000 after buying an additional 234,100 shares during the period.

More Progress Software News

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

• Positive Sentiment: Q1 results beat expectations: Progress reported stronger‑than‑expected EPS and revenue, lifted its full‑year outlook and cited robust demand for AI‑driven products — this underpinned an initial post‑quarter rally. PRGS’ Q1 Earnings Surpass Estimates
• Positive Sentiment: Product momentum: Progress launched Sitefinity Generative CMS to add AI search, personalization and conversational features — a strategic product update that supports medium/longer‑term growth expectations for AI‑driven revenue. Sitefinity Generative CMS Release
• Neutral Sentiment: Technicals and analyst revisions could flip direction: some outlets note PRGS is technically oversold after a sharp pullback, which could prompt a reversal if upward earnings revisions continue. This is speculative and depends on follow‑through buying. After Plunging 34% in 4 Weeks — Trend Might Reverse
• Negative Sentiment: Analysts are cutting price targets and forecasts despite keeping many positive ratings — multiple firms trimmed targets after Q1 (Citigroup, Jefferies, Wedbush, Oppenheimer), and some research notes downward revisions to near‑term forecasts; those actions increase near‑term downside risk and add selling pressure. Analysts Cut Forecasts After Q1

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.