Progress Software (NASDAQ:PRGS) Issues Earnings Results

Progress Software (NASDAQ:PRGS) posted its earnings results on Wednesday. The software maker reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.97), FiscalAI reports. The company had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.During the same quarter in the previous year, the firm posted $0.44 earnings per share. Progress Software updated its Q4 2026 guidance to 1.240-1.330 EPS and its FY 2026 guidance to 6.150-6.230 EPS.

Progress Software Stock Up 1.3%

PRGS stock traded up $0.53 during mid-day trading on Wednesday, hitting $39.97. 1,145,028 shares of the company were exchanged, compared to its average volume of 844,552. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software has a 1-year low of $23.82 and a 1-year high of $47.37. The firm’s 50 day simple moving average is $42.06 and its 200 day simple moving average is $35.05. The firm has a market cap of $1.64 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.65 and a beta of 0.82.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Progress Software to a “hold” rating in a report on Friday, September 25th. Guggenheim reissued a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Wednesday, July 1st. DA Davidson boosted their price target on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Oppenheimer dropped their price objective on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

Progress Software News Summary

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

• Positive Sentiment: Progress raised its fiscal 2026 adjusted EPS guidance to $6.15–$6.23, above the $5.90 analyst consensus. Fiscal-year revenue guidance of approximately $1.044–$1.052 billion is also consistent with or slightly above expectations. Progress Software Reports Fiscal Third Quarter 2026 Financial Results
• Positive Sentiment: Fiscal third-quarter GAAP net income increased 17% year over year to $22.8 million, while operating income rose 6% to $46.6 million. Operating margin expanded to 19%, and operating cash flow climbed 20% to $88 million.
• Positive Sentiment: The company launched new Progress Domo Magic ETL capabilities focused on data-pipeline visibility, governed artificial intelligence and auditable automation, supporting its strategy to build an AI infrastructure software platform. Progress Software Advances Domo Magic ETL and Expands Governed AI Capabilities
• Neutral Sentiment: The Domo AI and Data Platform acquisition closed during the quarter, adding new capabilities but also increasing integration demands and execution risk.
• Negative Sentiment: Third-quarter revenue fell 2% year over year to $246 million, while annualized recurring revenue rose only 1% on a constant-currency basis, indicating limited near-term growth momentum.
• Negative Sentiment: Reported EPS of $1.38 missed the $1.52 consensus estimate by $0.14. Fourth-quarter EPS guidance of $1.24–$1.33 is below the $1.37 consensus, even though revenue guidance of $297–$305 million is well above expectations.
• Negative Sentiment: Insider activity has been unfavorable, with eight reported insider sales and no purchases during the past six months. Progress Software Q3 Revenue Falls 2% to $246 Million

Progress Software Company Profile

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.