Oppenheimer Cuts Progress Software (NASDAQ:PRGS) Price Target to $57.00

Progress Software (NASDAQ:PRGS) had its price objective cut by Oppenheimer from $70.00 to $57.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price indicates a potential upside of 116.48% from the company’s current price.

Several other research analysts have also issued reports on the stock. Wedbush reduced their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Jefferies Financial Group cut their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Citigroup raised their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. DA Davidson lowered their target price 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. Finally, Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Progress Software Trading Down 6.9%

Shares of PRGS stock traded down $1.94 on Tuesday, reaching $26.33. 752,806 shares of the stock were exchanged, compared to its average volume of 1,050,489. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. Progress Software has a one year low of $26.23 and a one year high of $65.50. The stock has a market cap of $1.11 billion, a PE ratio of 16.00, a P/E/G ratio of 1.22 and a beta of 0.57. The stock has a 50 day moving average price of $37.67 and a 200 day moving average price of $41.17.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.03. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $246.40 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. Equities research analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Sundar Subramanian sold 1,600 shares of the business’s 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 completion of the transaction, the executive vice president owned 15,542 shares of the company’s stock, valued at $594,947.76. The trade was a 9.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of Progress Software 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 transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. This represents a 10.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,546 shares of company stock worth $1,171,546 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently modified their holdings of PRGS. Elevation Point Wealth Partners LLC acquired a new stake in Progress Software during the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. lifted its position in Progress Software by 194.1% in the 4th 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 in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Progress Software in the 4th quarter worth $42,000. Osaic Holdings Inc. boosted its stake in Progress Software by 183.0% in the 2nd 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 period. Finally, Advisors Asset Management Inc. increased its holdings in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares in the last quarter.

More Progress Software News

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

• Positive Sentiment: Q1 results beat consensus and management raised EPS guidance — Progress reported revenue of roughly $247.8–$248.0M (up ~4.1% YoY) and GAAP EPS that topped the Street; management also raised its EPS outlook, signaling confidence in margins and free cash flow. Progress Software Reports Fiscal First Quarter 2026
• Positive Sentiment: Shares reacted positively in aftermarket/early trading after the print — multiple outlets note a share bump following the earnings beat and guidance lift, reflecting investor enthusiasm for the quarter’s top-line stability and margin improvement. Progress Software beats Q1, guidance estimates, shares jump 5%
• Positive Sentiment: New product launch targets AI-driven demand — Progress released Sitefinity Generative CMS to deliver AI-powered search, personalization and conversational experiences with built‑in governance, positioning the company to capture enterprise AI DX (digital experience) spend. This is strategically aligned with market appetite for secure, governable AI tools. Sitefinity Generative CMS press release
• Neutral Sentiment: Earnings call and highlights provide color on product mix and cost control — Transcripts and highlights show management emphasizing enterprise renewals, margin expansion and cash generation but offer limited new guidance details beyond the raised EPS target. Useful for modeling revenue cadence but no dramatic guidance change. Q1 earnings highlights
• Neutral Sentiment: Full call transcript is available for deeper read — analysts and investors can review Q&A on churn, renewal timing and product roadmap to refine estimates. Earnings call transcript
• Negative Sentiment: Insider selling and mixed analyst expectations — Recent filings show insider sales and some analysts/quant services note institutional trimming and varied price targets; that could cap near-term upside if volumes continue. QuiverQuant summary (insider/holding data)
• Negative Sentiment: Balance sheet and valuation risks — Progress carries elevated leverage (debt/equity ~2.18) and liquidity ratios below 1.0, which investors may view as a risk if growth stalls or in a macro downturn; this can limit multiple expansion despite AI tailwinds. No external link

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.