Oppenheimer Cuts Progress Software (NASDAQ:PRGS) Price Target to $50.00

Progress Software (NASDAQ:PRGS) had its price objective decreased by analysts at Oppenheimer from $57.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target suggests a potential upside of 48.90% from the company’s current price.

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

Progress Software Trading Down 0.8%

Shares of NASDAQ PRGS opened at $33.58 on Wednesday. Progress Software has a 1-year low of $23.82 and a 1-year high of $60.87. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50 day moving average is $29.97 and its two-hundred day moving average is $34.96. The stock has a market capitalization of $1.41 billion, a P/E ratio of 17.22, a PEG ratio of 1.45 and a beta of 0.83.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.17. The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. 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, research analysts expect that Progress Software will post 4.68 EPS for the current year.

Institutional Investors Weigh In On Progress Software

Large investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its holdings in Progress Software by 133.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after purchasing an additional 698,611 shares during the period. LSV Asset Management boosted its holdings in Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after acquiring an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Progress Software during the third quarter worth about $16,324,000. Marshall Wace LLP raised its position 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 purchasing an additional 314,459 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Progress Software by 14,333.9% during the 1st quarter. Pacer Advisors Inc. now owns 259,378 shares of the software maker’s stock worth $6,653,000 after purchasing an additional 257,581 shares during the last quarter.

Trending Headlines about Progress Software

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

• Positive Sentiment: Progress Software beat Q2 expectations with EPS of $1.62 versus estimates around $1.45-$1.49, while revenue of $253.47 million topped forecasts of about $242.74 million. Progress Software Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: The company lifted its FY2026 EPS outlook to $6.09-$6.21 and Q3 EPS guidance to $1.53-$1.59, both above Wall Street estimates, suggesting management sees continued momentum. Progress forecasts FY2026 EPS of $6.09-$6.21 while targeting net leverage of ~2.8x
• Positive Sentiment: Management said it is targeting net leverage of about 2.8x, which may reassure investors focused on balance-sheet discipline and cash generation. Progress forecasts FY2026 EPS of $6.09-$6.21 while targeting net leverage of ~2.8x
• Positive Sentiment: Progress also announced a new product, Progress Chef Enterprise Management for NVIDIA DGX Spark, reinforcing its AI-related software positioning and potential growth narrative. Progress Software Launches Progress Chef Enterprise Management for NVIDIA DGX Spark
• Neutral Sentiment: Commentary on the stock’s valuation and debt profile suggests PRGS still trades at a low multiple after a year of weakness, but that view is more interpretive than a direct catalyst. Progress Software: Disciplined Debt As Company Looks Ahead To Next Deal
• Neutral Sentiment: Additional market coverage compared PRGS with another company, but it does not appear to be a meaningful standalone driver for the shares. Analyzing Progress Software (NASDAQ:PRGS) and Wetouch Technology (NASDAQ:WETH)

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.