Progress Software (NASDAQ:PRGS) Earns Buy Rating from DA Davidson

Posted by Geri Gentry on Jul 1st, 2026

Progress Software (NASDAQ:PRGS – Get Free Report)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 target price on the software maker’s stock. DA Davidson’s price objective would suggest a potential upside of 0.14% from the stock’s previous close.

A number of other research analysts have also recently commented on PRGS. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Jefferies Financial Group decreased 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. Guggenheim reiterated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Wednesday. Citigroup reduced their price objective on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Oppenheimer decreased their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Read Our Latest Analysis on Progress Software

Progress Software Price Performance

Shares of NASDAQ PRGS traded up $6.36 during trading hours on Wednesday, hitting $39.94. 2,061,527 shares of the stock were exchanged, compared to its average volume of 988,452. Progress Software has a 1-year low of $23.82 and a 1-year high of $56.58. The company has a market cap of $1.68 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.83. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.47. The company’s fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $34.96.

Progress Software (NASDAQ:PRGS – Get Free Report) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.17. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. 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. On average, sell-side analysts predict that Progress Software will post 4.68 EPS for the current year.

Institutional Investors Weigh In On Progress Software

Several large investors have recently added to or reduced their stakes in PRGS. Advisors Asset Management Inc. boosted its holdings in shares of 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 buying an additional 604 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after acquiring an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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. Finally, Jane Street Group LLC boosted its stake in Progress Software by 206.8% during the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after acquiring an additional 75,044 shares in the last quarter.

More Progress Software News

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

Positive Sentiment: Progress Software beat Wall Street expectations for Q2, reporting EPS of $1.62 versus estimates around $1.45 and revenue of $253.5 million versus $242.7 million expected, with sales up 6.8% year over year. Progress Software earnings report
Positive Sentiment: The company also lifted guidance, forecasting FY2026 EPS of $6.09-$6.21 and Q3 EPS of $1.53-$1.59, both above consensus, which suggests management sees continued momentum ahead. Progress Software financial results
Positive Sentiment: Management highlighted AI demand as a tailwind for its data, workflow, and infrastructure platforms, and also launched Progress Chef Enterprise Management for NVIDIA DGX Spark, reinforcing the company’s AI-related product strategy. Progress Software AI product launch
Positive Sentiment: Analyst sentiment also improved, with Guggenheim reaffirming a buy rating and setting an $83 price target, while Oppenheimer kept an outperform rating despite trimming its target to $50. Analyst note on Progress Software
Neutral Sentiment: Commentary around the earnings release noted the stock’s valuation remains relatively low versus broader software peers, which may support the longer-term bull case but is less of a direct near-term catalyst.

Progress Software Company Profile

(Get Free Report)

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.