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 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.

Progress Software Price Performance

NASDAQ:PRGS traded down $0.26 during trading hours on Tuesday, hitting $33.58. The company’s stock had a trading volume of 1,811,373 shares, compared to its average volume of 979,678. 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 company has a market capitalization of $1.41 billion, a P/E ratio of 17.22, a PEG 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 stock has a fifty day simple moving average of $29.92 and a 200-day simple moving average of $35.04.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.13. The company had revenue of $253.47 million for the quarter, compared to the consensus estimate 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. On average, analysts anticipate that Progress Software will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRGS. DA Davidson reduced their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Jefferies Financial Group cut their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Citigroup dropped their price objective on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Wedbush cut 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. Finally, Oppenheimer decreased their price target on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.40.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its position in shares of Progress Software by 95.8% during the 3rd 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 in the last quarter. Orion Porfolio Solutions LLC lifted its stake in Progress Software by 13.8% in the third quarter. Orion Porfolio Solutions LLC now owns 6,051 shares of the software maker’s stock valued at $266,000 after buying an additional 736 shares during the period. Bayesian Capital Management LP bought a new position in shares of Progress Software during the 2nd quarter worth approximately $263,000. HighTower Advisors LLC boosted its holdings 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 buying an additional 2,346 shares in the last quarter. Finally, LPL Financial LLC acquired 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.