What is DA Davidson's Forecast for PRGS FY2026 Earnings?

Progress Software Co. (NASDAQ:PRGS - Free Report) - Equities researchers at DA Davidson issued their FY2026 EPS estimates for Progress Software in a note issued to investors on Wednesday, January 22nd. DA Davidson analyst L. Schreiner forecasts that the software maker will post earnings per share of $4.22 for the year. DA Davidson has a "Buy" rating and a $75.00 price target on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.59 per share.

Several other equities analysts also recently commented on PRGS. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Jefferies Financial Group increased their price target on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a report on Monday, January 6th. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday. Oppenheimer raised their price objective on shares of Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Progress Software presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.43.

Progress Software Stock Up 2.5 %

PRGS traded up $1.32 during midday trading on Monday, hitting $54.32. 863,176 shares of the company's stock traded hands, compared to its average volume of 773,191. The company has a market cap of $2.36 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 6.24 and a beta of 0.93. The stock's fifty day simple moving average is $65.69 and its 200-day simple moving average is $62.46. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 1.23. Progress Software has a one year low of $48.00 and a one year high of $70.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGS. Envestnet Asset Management Inc. raised its holdings in shares of Progress Software by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 94,066 shares of the software maker's stock valued at $5,104,000 after buying an additional 2,118 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Progress Software during the 2nd quarter worth about $27,000. Sei Investments Co. raised its holdings in Progress Software by 374.0% during the 2nd quarter. Sei Investments Co. now owns 39,786 shares of the software maker's stock worth $2,159,000 after purchasing an additional 31,393 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Progress Software by 98.8% during the 2nd quarter. AQR Capital Management LLC now owns 38,950 shares of the software maker's stock worth $2,113,000 after buying an additional 19,359 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Progress Software during the 2nd quarter worth about $1,378,000.

About Progress Software

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.