Progress Software (NASDAQ:PRGS) Issues Q2 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its second quarter 2026 earnings guidance on Thursday. The company provided EPS guidance of 1.470-1.530 for the period, compared to the consensus EPS estimate of 1.270. The company issued revenue guidance of $240.0 million-$246.0 million, compared to the consensus revenue estimate of $241.1 million. Progress Software also updated its FY 2026 guidance to 5.910-6.030 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRGS. DA Davidson dropped their target price on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Wedbush dropped their target price on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Oppenheimer dropped their target price on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Jefferies Financial Group dropped 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 report on Tuesday, March 31st. Finally, Citigroup decreased their price target on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Progress Software presently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Progress Software Stock Performance

Shares of PRGS stock opened at $26.65 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. The firm has a fifty day simple moving average of $35.05 and a two-hundred day simple moving average of $40.23. 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 12 month low of $23.82 and a 12 month high of $65.50.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.03. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. Progress Software’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. Analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sundar Subramanian sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total value of $61,248.00. Following the completion of the sale, the executive vice president owned 15,542 shares in the company, valued at $594,947.76. This represents a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,546 shares of company stock valued at $1,171,546 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Progress Software

Institutional investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Progress Software in the 4th quarter worth $42,000. Advisors Asset Management Inc. grew its stake in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Progress Software by 183.0% in the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after acquiring an additional 637 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Progress Software in the 3rd quarter worth $102,000. Finally, State of Wyoming bought a new stake in shares of Progress Software in the 2nd quarter worth $137,000.

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.