TD Cowen Has Lowered Expectations for PROG (NYSE:PRG) Stock Price

Key Points

• TD Cowen lowered PROG’s price target from $50 to $45 while maintaining a “buy” rating, implying roughly 38% upside from the reported $32.56 share price.
• Analyst sentiment remains broadly positive: seven analysts rate PROG a Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average target price of $47.38.
• PROG’s latest results fell short of estimates, with EPS of $1.06 versus $1.09 expected and revenue of $725.8 million versus $738.1 million; the company also lowered its 2026 earnings guidance, raising concerns about near-term momentum.

PROG (NYSE:PRG - Get Free Report) had its price target dropped by equities research analysts at TD Cowen from $50.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the fintech holding company's stock. TD Cowen's price objective indicates a potential upside of 38.22% from the company's current price.

Several other brokerages also recently commented on PRG. Jefferies Financial Group dropped their price target on PROG from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, October 7th. Stephens dropped their price objective on shares of PROG from $55.00 to $49.00 and set an "overweight" rating for the company in a report on Thursday. B. Riley Financial increased their price objective on PROG from $57.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of PROG from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 6th. Finally, Weiss Ratings raised shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.38.

PROG Trading Up 5.4%

NYSE PRG traded up $1.68 on Thursday, hitting $32.56. 303,128 shares of the stock were exchanged, compared to its average volume of 551,862. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.97 and a beta of 1.78. PROG has a 52-week low of $25.18 and a 52-week high of $47.73. The company has a debt-to-equity ratio of 1.10, a current ratio of 4.03 and a quick ratio of 2.29. The company's 50-day moving average price is $34.26 and its two-hundred day moving average price is $35.61.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.03). PROG had a net margin of 5.57% and a return on equity of 21.88%. The company had revenue of $725.78 million for the quarter, compared to analysts' expectations of $738.09 million. Research analysts predict that PROG will post 4.93 EPS for the current year.

Insider Transactions at PROG

In related news, insider Michael King sold 1,070 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.00, for a total value of $49,220.00. Following the completion of the sale, the insider directly owned 60,825 shares of the company's stock, valued at approximately $2,797,950. This represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO George M. Sewell sold 2,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total value of $91,060.00. Following the transaction, the chief accounting officer directly owned 28,385 shares in the company, valued at $1,292,369.05. This represents a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,000 shares of company stock valued at $183,060 over the last 90 days. 3.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PROG

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new stake in PROG in the 2nd quarter worth $34,000. Allworth Financial LP boosted its stake in shares of PROG by 61.9% during the second quarter. Allworth Financial LP now owns 897 shares of the fintech holding company's stock valued at $42,000 after purchasing an additional 343 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of PROG during the second quarter worth approximately $44,000. Sterling Capital Management LLC increased its position in PROG by 99.2% during the 3rd quarter. Sterling Capital Management LLC now owns 1,006 shares of the fintech holding company's stock valued at $31,000 after purchasing an additional 501 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in PROG during the first quarter valued at about $38,000. 97.92% of the stock is currently owned by institutional investors.

Key Stories Impacting PROG

Here are the key news stories impacting PROG this week:

• Positive Sentiment: Share repurchase supports the stock: PROG intends to enter an accelerated share repurchase agreement for $100 million of common stock, with the transactions expected to be completed in the first quarter of 2027. The program signals management’s confidence in the business and could reduce the share count, potentially supporting per-share earnings. PROG Holdings Announces Intention to Enter into $100 Million Accelerated Share Repurchase Program
• Neutral Sentiment: Mixed interpretation of earnings: PROG reported third-quarter adjusted earnings of $1.06 per share, up from $0.90 a year earlier. One estimate set viewed the result as matching expectations, while other estimates placed consensus at $1.09. Revenue of approximately $725.8 million also reflected year-over-year business activity, including Purchasing Power, acquired in January, but was below the $738.1 million estimate. PROG Holdings Reports Third Quarter 2026 Results
• Negative Sentiment: Results and outlook disappointed investors: The revenue shortfall and analyst-estimate miss prompted an initial selloff. More importantly, PROG lowered its 2026 earnings guidance, raising concerns about near-term operating momentum and profitability despite the company’s diversified fintech platform. PROG Shares Fall as Q3 Results Miss Estimates, 2026 Guidance Lowered

PROG Company Profile

PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.

The company's primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.

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