Progress Software (NASDAQ:PRGS) Price Target Raised to $75.00

by · The Cerbat Gem

Progress Software (NASDAQ:PRGS – Free Report) had its target price hoisted by DA Davidson from $70.00 to $75.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock. DA Davidson also issued estimates for Progress Software’s Q3 2025 earnings at $1.01 EPS, FY2025 earnings at $4.24 EPS and FY2026 earnings at $4.58 EPS.

A number of other equities research analysts have also recently commented on PRGS. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Progress Software in a report on Friday, June 27th. Citigroup restated a “neutral” rating on shares of Progress Software in a report on Friday, June 27th. Guggenheim reiterated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday, June 27th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a report on Friday, June 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.17.

View Our Latest Analysis on Progress Software

Progress Software Stock Performance

Shares of PRGS opened at $54.14 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The stock has a market cap of $2.33 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.54 and a beta of 0.68. The business’s 50 day moving average price is $61.78 and its 200-day moving average price is $59.56. Progress Software has a 52 week low of $50.68 and a 52 week high of $70.56.

Progress Software (NASDAQ:PRGS – Get Free Report) last announced its quarterly earnings data on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. Progress Software had a return on equity of 43.72% and a net margin of 6.63%. The business had revenue of $237.36 million during the quarter, compared to analysts’ expectations of $237.23 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts anticipate that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Progress Software

In related news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Progress Software

A number of institutional investors and hedge funds have recently made changes to their positions in PRGS. Bessemer Group Inc. raised its position in Progress Software by 149.5% in the fourth quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after acquiring an additional 296 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Progress Software in the 4th quarter worth $33,000. Smartleaf Asset Management LLC raised its holdings in Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after purchasing an additional 688 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 valued at $54,000 after purchasing an additional 604 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Progress Software by 25.0% during the first quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker’s stock valued at $84,000 after purchasing an additional 326 shares in the last quarter.

About Progress Software

(Get Free Report)

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.

Read More