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

Progress Software (NASDAQ:PRGS) updated its FY 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.090-6.210 for the period, compared to the consensus EPS 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.

Progress Software Stock Down 0.8%

Shares of NASDAQ:PRGS traded down $0.26 during trading on Tuesday, hitting $33.58. 1,811,373 shares of the company’s stock traded hands, compared to its average volume of 979,678. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. The company has a 50-day moving average price of $29.92 and a 200-day moving average price of $35.04. Progress Software has a 52 week low of $23.82 and a 52 week high of $60.87. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.83.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.49 by $0.13. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. 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 forecast that Progress Software will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on PRGS. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 16th. Jefferies Financial Group lowered their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Wedbush dropped their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Citigroup cut their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, DA Davidson reduced their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.40.

Institutional Investors Weigh In On Progress Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Progress Software by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock valued at $2,531,000 after purchasing an additional 333 shares during the period. Susquehanna Fundamental Investments LLC raised its stake in Progress Software by 0.9% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker’s stock valued at $2,085,000 after purchasing an additional 450 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Progress Software by 1.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 48,215 shares of the software maker’s stock worth $2,055,000 after purchasing an additional 601 shares during the period. Advisors Asset Management Inc. lifted its position in Progress Software by 135.1% during 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 during the period. Finally, Osaic Holdings Inc. grew its stake in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares in the last quarter.

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.