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

Progress Software (NASDAQ:PRGS) issued an update on its FY 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 6.090-6.210 for the period, compared to the consensus earnings per share estimate of 5.720. The company issued revenue guidance of $990.0M-$1.0 billion, compared to the consensus revenue estimate of $993.7 million. Progress Software also updated its Q3 2026 guidance to 1.530-1.590 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer reduced their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. 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 note on Tuesday, March 31st. Jefferies Financial Group reduced their price objective 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. DA Davidson lowered their target price on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Citigroup dropped their price objective on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.40.

Progress Software Stock Down 0.8%

Shares of Progress Software stock traded down $0.26 on Tuesday, hitting $33.58. The company had a trading volume of 1,818,062 shares, compared to its average volume of 980,034. The firm has a market capitalization of $1.41 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.42 and a beta of 0.83. Progress Software has a twelve month low of $23.82 and a twelve month 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 stock has a 50-day moving average of $29.92 and a 200-day moving average of $35.04.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.13. The business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. 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. Research analysts predict that Progress Software will post 4.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC raised its holdings in shares of Progress Software by 95.8% in the third quarter. Virtu Financial LLC now owns 6,442 shares of the software maker’s stock valued at $283,000 after purchasing an additional 3,152 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in Progress Software by 13.8% during the third quarter. Orion Porfolio Solutions LLC now owns 6,051 shares of the software maker’s stock valued at $266,000 after purchasing an additional 736 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Progress Software during the 2nd quarter worth approximately $263,000. HighTower Advisors LLC increased its position in shares of Progress Software by 74.9% during the 4th quarter. HighTower Advisors LLC now owns 5,477 shares of the software maker’s stock worth $235,000 after purchasing an additional 2,346 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Progress Software during the 4th quarter worth approximately $219,000.

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.