Progress Software (NASDAQ:PRGS) Updates Q2 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its second quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.470-1.530 for the period, compared to the consensus earnings per share estimate of 1.270. The company issued revenue guidance of $240.0 million-$246.0 million, compared to the consensus revenue estimate of $241.1 million. Progress Software also updated its FY 2026 guidance to 5.910-6.030 EPS.

Progress Software Stock Performance

NASDAQ PRGS traded down $1.61 on Thursday, hitting $27.14. 550,487 shares of the company’s stock were exchanged, compared to its average volume of 1,122,514. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.47 and a quick ratio of 0.49. The firm’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $40.43. Progress Software has a fifty-two week low of $23.82 and a fifty-two week high of $65.50. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.10 and a beta of 0.76.

Progress Software (NASDAQ:PRGS) last released its earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $246.40 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that Progress Software will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

PRGS has been the topic of several research analyst reports. Wedbush decreased their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Citigroup decreased their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. DA Davidson decreased their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 1st. Finally, Jefferies Financial Group decreased their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Insider Buying and Selling

In related news, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction that occurred on 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 owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This represents a 10.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 15,542 shares in the company, valued at approximately $594,947.76. The trade was a 9.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its stake in Progress Software by 61.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,736 shares of the software maker’s stock valued at $375,000 after buying an additional 3,325 shares in the last quarter. State of Tennessee Department of Treasury lifted its stake in Progress Software by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,768 shares of the software maker’s stock valued at $522,000 after buying an additional 2,110 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Progress Software in the 4th quarter valued at approximately $290,000. Mackenzie Financial Corp lifted its stake in Progress Software by 174.3% in the 4th quarter. Mackenzie Financial Corp now owns 82,131 shares of the software maker’s stock valued at $3,562,000 after buying an additional 52,192 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Progress Software by 71.2% in the 4th quarter. XTX Topco Ltd now owns 16,264 shares of the software maker’s stock valued at $699,000 after buying an additional 6,762 shares in the last quarter.

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.