Wedbush Cuts Progress Software (NASDAQ:PRGS) Price Target to $65.00

Progress Software (NASDAQ:PRGS) had its price target dropped by research analysts at Wedbush from $75.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Wedbush’s price objective suggests a potential upside of 52.31% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Citigroup reaffirmed a “buy” rating on shares of Progress Software in a research report on Thursday. Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group lowered 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. Finally, DA Davidson decreased 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. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.40.

Progress Software Trading Down 0.1%

Shares of NASDAQ PRGS opened at $42.68 on Thursday. The business has a fifty day moving average price of $42.25 and a 200 day moving average price of $44.26. Progress Software has a 1-year low of $38.54 and a 1-year high of $65.50. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $1.83 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 44.49%. The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’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. Equities 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 made changes to their positions in PRGS. Prudential Financial Inc. grew its position in Progress Software by 61.2% during the 2nd quarter. Prudential Financial Inc. now owns 93,916 shares of the software maker’s stock worth $5,996,000 after purchasing an additional 35,660 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 243,950 shares during the period. Intech Investment Management LLC boosted its position in Progress Software by 59.0% in the 2nd quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock worth $2,863,000 after purchasing an additional 16,651 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Progress Software during the 2nd quarter worth approximately $411,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Progress Software during the 2nd quarter worth approximately $398,000.

Progress Software News Summary

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

• Positive Sentiment: Q4 beat and raised FY‑26 guidance — Progress reported $1.51 EPS (above consensus) and ~17.5% revenue growth; management provided FY‑2026 revenue target near $1.0B and EPS guidance above street expectations, a primary reason the stock has rallied. Progress Software Reports Fiscal Fourth Quarter 2025 and Full Year Results
• Positive Sentiment: AI demand highlighted as growth driver — Coverage notes management is seeing accelerating AI-driven demand that helped lift FY‑26 revenue and ARR outlook, improving the growth narrative for investors. How Progress Software’s AI Push and 2025 Results Could Shape PRGS Investors’ Outlook
• Positive Sentiment: Earnings‑call takeaways: profitable growth & ARR buildup — Calls and transcripts emphasize ARR growth, stronger cash flow and profitable execution as the company “reloads” for deals, supporting the sentiment shift. Progress Software Earnings Call Highlights Profitable Growth
• Positive Sentiment: Analyst support and premarket pops — Several analysts have buy ratings or higher targets and premarket reporting showed shares up after the results, reinforcing momentum. PRGS Q4 Earnings Beat Estimates, Revenues Rise Y/Y, Shares Up
• Neutral Sentiment: Options activity surge—elevated options volume indicates heightened trader interest and potential short‑term volatility, which can amplify moves in either direction. Spotlight on Progress Software: Analyzing the Surge in Options Activity
• Negative Sentiment: Valuation and “discipline” cautions — some commentary urges caution after the quick move higher, questioning whether the rally fully reflects longer‑term fundamentals and advising valuation discipline. That could cap upside if growth expectations slip. Progress Software (PRGS) Valuation Check After Recent Share Price Move
• Negative Sentiment: Critical analysis urging caution — deeper takes warn investors about reloading capital for M&A or execution risks despite ARR progress, which could pressure the stock if guidance execution disappoints. Progress Software: Discipline Over Temptation

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.