Wedbush Cuts Progress Software (NASDAQ:PRGS) Price Target to $65.00

Progress Software (NASDAQ:PRGS) had its target price trimmed by Wedbush from $75.00 to $65.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Citigroup lifted their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen raised Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. DA Davidson reduced their price objective on Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Finally, Jefferies Financial Group decreased their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Stock Down 0.7%

Shares of PRGS stock opened at $42.43 on Thursday. Progress Software has a 1 year low of $38.54 and a 1 year high of $65.50. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.44 and a current ratio of 0.49. The business’s fifty day moving average is $42.27 and its 200-day moving average is $44.12. The stock has a market cap of $1.79 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $1.33 earnings per share. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Equities analysts expect that Progress Software will post 4.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Maseco LLP purchased a new stake in Progress Software in the 2nd quarter worth about $28,000. Quaker Wealth Management LLC increased its holdings in shares of Progress Software by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after purchasing an additional 900 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Progress Software in the second quarter worth approximately $41,000. Osaic Holdings Inc. boosted its holdings in shares of 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 purchasing an additional 637 shares during the period. Finally, Advisors Asset Management Inc. grew 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 valued at $54,000 after purchasing an additional 604 shares in the last quarter.

Key Stories Impacting Progress Software

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

• Positive Sentiment: Q4 earnings beat and guidance — Progress topped EPS (1.51 vs. 1.31 est.) and raised/issued FY‑2026 and Q1 guidance, supporting a rally tied to profitable growth. Read More.
• Positive Sentiment: AI demand cited as a growth driver — Multiple outlets attribute the stock’s recent pop to accelerating customer adoption of Progress’s application and AI tooling. Read More.
• Positive Sentiment: Earnings call detail and investor interest — The transcript and call notes highlight profitable growth, which underpins valuation support and institutional interest. Read More.
• Positive Sentiment: Analyst sentiment supportive — Analysts’ consensus rating is “Moderate Buy,” reinforcing investor confidence even after recent volatility. Read More.
• Positive Sentiment: Options activity surged — Unusual options volume suggests speculative/hedging flows around the post-earnings move, which can amplify intraday swings. Read More.
• Neutral Sentiment: Analyst price target cut but rating kept — Wedbush trimmed its target from $75 to $65 while maintaining an outperform stance; this reduces upside expectations but keeps buy conviction. Read More.
• Neutral Sentiment: Valuation and peer comparison notes — Several analyses (Zacks, Yahoo valuation checks) discuss PRGS relative to peers (e.g., INTU) and whether the post-earnings level still offers value. These are background items for longer-term investors. Read More.
• Neutral Sentiment: Coverage and commentary pieces — Market commentary and op-eds (Seeking Alpha, Kalkine) praise product reliability and disciplined execution; useful for sentiment but less likely to move price alone. Read More.

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.