Progress Software (NASDAQ:PRGS – Get Free Report) updated 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 earnings per share 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 NASDAQ:PRGS opened at $33.58 on Wednesday. The firm has a market capitalization of $1.41 billion, a PE ratio of 17.22, a PEG ratio of 1.45 and a beta of 0.83. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. Progress Software has a 1-year low of $23.82 and a 1-year high of $60.87. The business’s 50 day moving average is $29.97 and its 200-day 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 EPS for the quarter, beating analysts’ consensus estimates 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%.Progress Software’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. 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. Sell-side analysts predict that Progress Software will post 4.68 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Progress Software
Key Headlines Impacting 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)
Hedge Funds Weigh In On Progress Software
Several institutional investors have recently bought and sold shares of PRGS. Advisors Asset Management Inc. boosted its stake in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing 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 first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after buying an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after buying an additional 1,454 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after buying an additional 241,515 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after buying an additional 75,044 shares in 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.
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