Progress Software (NASDAQ:PRGS) Releases Q3 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its third quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.530-1.590 for the period, compared to the consensus EPS estimate of 1.390. The company issued revenue guidance of $244.0 million-$250.0 million, compared to the consensus revenue estimate of $249.9 million. Progress Software also updated its FY 2026 guidance to 6.090-6.210 EPS.

Progress Software Price Performance

Shares of PRGS stock traded down $0.26 during trading on Tuesday, hitting $33.58. The company had a trading volume of 1,811,373 shares, compared to its average volume of 979,678. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.97. The stock’s 50-day moving average is $29.92 and its two-hundred day moving average is $35.04. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.83. Progress Software has a 52 week low of $23.82 and a 52 week high of $60.87.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.13. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. As a group, analysts predict that Progress Software will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRGS. Citigroup dropped their price objective on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. DA Davidson lowered their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Wedbush dropped their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group reduced their price objective on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Four equities 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 company’s stock. According to data from MarketBeat.com, Progress Software currently has a consensus rating of “Moderate Buy” and an average price target of $46.40.

Institutional Trading of Progress Software

Several institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new position in shares of Progress Software in the third quarter worth about $16,324,000. Marshall Wace LLP lifted its stake in shares of Progress Software by 732.6% in the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after acquiring an additional 314,459 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after acquiring an additional 241,515 shares during the period. Cubist Systematic Strategies LLC bought a new position in Progress Software during the 2nd quarter worth approximately $9,337,000. Finally, Amundi grew its position in Progress Software by 640.7% during the 2nd quarter. Amundi now owns 155,526 shares of the software maker’s stock worth $9,929,000 after acquiring an additional 134,528 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.