Progress Software (PRGS) Stock Forecast, Price & News

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PRGS shares.
View PRGS analyst ratings or view top-rated stocks.

5 Wall Street research analysts have issued twelve-month price targets for Progress Software's shares. Their PRGS share price forecasts range from $62.00 to $66.00. On average, they anticipate the company's stock price to reach $64.40 in the next year. This suggests a possible upside of 21.9% from the stock's current price.
View analysts price targets for PRGS or view top-rated stocks among Wall Street analysts.

Progress Software's stock was trading at $50.45 on January 1st, 2023. Since then, PRGS stock has increased by 4.7% and is now trading at $52.82.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, January 16th 2024.
View our PRGS earnings forecast.

Progress Software Co. (NASDAQ:PRGS) released its earnings results on Tuesday, September, 26th. The software maker reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.08. The software maker had revenue of $175.78 million for the quarter, compared to analyst estimates of $173.27 million. Progress Software had a trailing twelve-month return on equity of 40.24% and a net margin of 11.65%. The business's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share.

Progress Software announced a quarterly dividend on Tuesday, September 26th. Investors of record on Friday, December 1st will be paid a dividend of $0.175 per share on Friday, December 15th. This represents a $0.70 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, November 30th.
Read our dividend analysis for PRGS.

ETFs with the largest weight of Progress Software (NASDAQ:PRGS) stock in their portfolio include Direxion Work From Home ETF (WFH), Invesco S&P SmallCap Information Technology ETF (PSCT), Small Cap US Equity Select ETF (RNSC), Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG), Invesco S&P SmallCap Quality ETF (XSHQ), Invesco S&P SmallCap Low Volatility ETF (XSLV), Invesco S&P SmallCap Momentum ETF (XSMO) and Hartford Longevity Economy ETF (HLGE).

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.33%. The dividend payout ratio is 39.77%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 18.28% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

Progress Software issued an update on its FY 2023 earnings guidance on Tuesday, September, 26th. The company provided earnings per share guidance of $4.20-$4.26 for the period, compared to the consensus EPS estimate of $4.20. The company issued revenue guidance of $692.00 million-$698.00 million, compared to the consensus revenue estimate of $692.52 million.

139 employees have rated Progress Software Chief Executive Officer Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among the company's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Intel (INTC), Micron Technology (MU), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Energy Transfer (ET), Pfizer (PFE), AbbVie (ABBV), NVIDIA (NVDA), Costco Wholesale (COST) and Broadcom (AVGO).

Progress Software trades on the NASDAQ under the ticker symbol "PRGS."

Shares of PRGS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PRGS stock can currently be purchased for approximately $52.82.

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.29 billion and generates $602.01 million in revenue each year. The software maker earns $95.07 million in net income (profit) each year or $1.76 on an earnings per share basis.

The company employs 2,071 workers across the globe.

Progress Software's mailing address is 14 OAK PARK DRIVE, BEDFORD MA, 01730. The official website for the company is www.progress.com. The software maker can be reached via phone at (781) 280-4000, via email at investor-relations@progress.com, or via fax at 781-280-4095.