Progress Software (NASDAQ:PRGS) Releases FY 2026 Earnings Guidance

Key Points

• Progress Software raised its FY 2026 guidance, forecasting EPS of $6.15–$6.23 versus the $5.90 consensus estimate and revenue of $1.0–$1.1 billion. Q4 FY 2026 EPS guidance was set at $1.24–$1.33.
• Analyst sentiment remains favorable, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $52.17.
• Shares rose 1.3% to $39.97, although the company’s latest quarterly EPS of $1.38 missed analysts’ $1.52 estimate by $0.14.

Progress Software (NASDAQ:PRGS - Get Free Report) updated its FY 2026 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.150-6.230 for the period, compared to the consensus earnings per share estimate of 5.900. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.0 billion. Progress Software also updated its Q4 2026 guidance to 1.240-1.330 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRGS shares. DA Davidson lifted their price target on shares of Progress Software from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Oppenheimer cut their price target on Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group upgraded Progress Software to a "hold" rating in a research note on Friday, September 25th. Finally, Guggenheim restated a "buy" rating and set a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.17.

Progress Software Stock Up 1.3%

Shares of NASDAQ PRGS traded up $0.53 during midday trading on Wednesday, hitting $39.97. The stock had a trading volume of 1,122,597 shares, compared to its average volume of 841,539. The business's 50 day moving average is $42.06 and its 200-day moving average is $35.05. Progress Software has a 52 week low of $23.82 and a 52 week high of $47.37. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The company has a market cap of $1.64 billion, a P/E ratio of 19.40, a PEG ratio of 1.65 and a beta of 0.82.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.38 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.14). Progress Software had a return on equity of 43.07% and a net margin of 8.87%.Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. As a group, analysts predict that Progress Software will post 4.77 EPS for the current year.

Progress Software Company Profile

Progress Software Corporation NASDAQ: PRGS develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company's products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.

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