Progress Software (NASDAQ:PRGS) Issues Q3 2026 Earnings Guidance

Progress Software (NASDAQ:PRGS) issued an update on its third quarter 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.530-1.590 for the period, compared to the consensus EPS estimate of 1.390. The company issued revenue guidance of $244.0 million-$250.0 million, compared to the consensus revenue estimate of $249.9 million. Progress Software also updated its FY 2026 guidance to 6.090-6.210 EPS.

Progress Software Trading Down 0.8%

Shares of NASDAQ PRGS traded down $0.26 during trading on Tuesday, reaching $33.58. The company had a trading volume of 1,818,062 shares, compared to its average volume of 980,034. The company’s fifty day moving average price is $29.92 and its 200-day moving average price is $35.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.97. The stock has a market cap 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 12 month low of $23.82 and a 12 month high of $60.87.

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

Wall Street Analyst Weigh In

PRGS has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. 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 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 note on Tuesday, March 31st. Finally, Citigroup reduced their price target 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. Four 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. According to MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and an average target price of $46.40.

Hedge Funds Weigh In On Progress Software

Institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new position in shares of Progress Software in the 4th quarter worth $42,000. Advisors Asset Management Inc. increased its stake in Progress Software by 135.1% during the 1st 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. Osaic Holdings Inc. raised its holdings 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 during the last quarter. iSAM Funds UK Ltd acquired a new position in Progress Software during the third quarter worth $102,000. Finally, State of Wyoming bought a new position in shares of Progress Software in the second quarter valued at $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.