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PRGS

PRGS Overview

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$

0.000

0.000(0.000%)

At close

0.000(0.000%)Aft-market

ET

$

0.000

0.000(0.000%)

At close

0.000(0.000%)Aft-market

ET

Overview Stock Price Prediction Technical Valuation Financials Earnings Should I Buy News & Events

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High

40.003

Open

39.500

VWAP

39.27

Vol

902.20K

Mkt Cap

1.61B

Low

38.605

Amount

35.43M

EV/EBITDA(TTM)

8.30

Total Shares

41.01M

EV

2.78B

EV/OCF(TTM)

8.86

P/S(TTM)

1.66

Progress Software Corporation is a provider of artificial intelligence (AI)-powered digital experience and infrastructure software. The Company provides software products that enable its customers to develop, deploy and manage responsible AI-powered applications and digital experiences. It also offers retrieval-augmented generation (RAG) -as-a-service products. Its products include Sitefinity, Corticon, MOVEit, ShareFile, Podio, Kendo UI, Telerik, Kemp LoadMaster, Flowmon, WhatsUp Gold, Chef Infrastructure Management, Chef Desktop, Chef App Delivery, MarkLogic, Semaphore, OpenEdge, DataDirect Connectors, Hybrid Data Pipeline, and Automate MFT. MOVEit Transfer Software offers an on-premises Managed File Transfer (MFT) server, supporting compliance with internal governance requirements and regulations. WhatsUp Gold is an information technology (IT) infrastructure monitoring software providing visibility into network devices, servers, virtual machines, cloud, and wireless environments.

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Events Timeline

(ET)

2026-07-01

16:30:00

Markets Decline as Fed Rate Hike Expectations Weigh

2026-07-01

12:00:00

Markets Mixed as Semiconductor Stocks Slip

2026-06-30 (ET)

2026-06-30

16:30:00

Raises FY26 Revenue Outlook to $990M-$1.002B

2026-06-30

16:30:00

Major Averages Broadly Higher to Close Q2

2026-06-30

16:30:00

Progress Sees Q3 Revenue of $244M-$250M

2026-06-30

16:30:00

Progress Software Q2 Revenue Reaches $253.47M, Exceeds Expectations

2026-06-30

12:30:00

Major Averages Rise as S&P 500 and Nasdaq Rebound

News

CNBC

Meta's Cloud Business Expansion Drives Stock Surge

Meta Cloud Business Expansion: Meta Platforms shares surged 11% on news of its plan to sell excess AI computing power to external customers, marking a significant expansion into the cloud business that is expected to enhance revenue streams and strengthen market competitiveness.
General Mills Earnings Beat: General Mills reported fourth-quarter adjusted earnings of 95 cents per share on revenue of $4.61 billion, surpassing market expectations, and announced plans to achieve $3 billion in cumulative cost savings by fiscal year 2030, demonstrating strong profitability and cost control capabilities.
Progress Software Strong Performance: Progress Software shares rallied over 18% after reporting second-quarter adjusted earnings of $1.62 per share on revenue of $253.5 million, both exceeding analyst expectations, with optimistic guidance for Q3 reflecting the company's sustained growth potential.
Nike's Earnings Recovery: Nike's stock rose more than 4% as its fiscal fourth-quarter results exceeded analyst expectations despite a 12% year-over-year decline in China sales, showcasing the brand's resilience in the global market and potential for future growth.

seekingalpha

07-01seekingalpha

Progress Software Reports Strong Q2 Earnings Exceeding Expectations

Earnings Beat: Progress Software reported Q2 revenue of $253.5 million, exceeding expectations by $10.76 million, showcasing strong revenue growth and effective expense management, which bolsters investor confidence in the company's core business stability.
AI Product Growth: The company's AI-enabled products are gaining strong customer traction, evidenced by an uptick in net retention, indicating that AI investments are deepening platform stickiness and supporting customer retention, which is crucial for future revenue growth.
Capital Allocation Strategy: While management focuses on debt paydown, they have also accelerated share buybacks, demonstrating a commitment to shareholder returns while maintaining financial health, which enhances market confidence.
Cautious Future Outlook: Despite a strong Q2 performance, management's guidance for FY2026 is weaker, with revenue expected to fall roughly $2 billion short of expectations, reflecting a slowdown in M&A activity and a lowered net debt repayment target, which may impact future growth potential.

Fool

Progress Software Surges After Beating Q2 Earnings Expectations

Earnings Beat: Progress Software reported adjusted earnings of $1.62 per share on sales of $253.5 million for Q2, surpassing Wall Street's expectations of $1.49 and $242.74 million, indicating robust market performance.
Significant Sales Growth: The company experienced a 6.7% year-over-year increase in sales and a 24% surge in net income compared to the prior year, highlighting strong demand across its product portfolio, particularly in AI-driven offerings.
Upgraded Guidance: Progress Software raised its fiscal year sales guidance to between $990 million and $1.02 billion, with adjusted earnings per share projected between $6.09 and $6.21, reflecting confidence in future growth.
Cash Flow Targets Increased: The company also increased its adjusted free cash flow target to between $271 million and $283 million, and unlevered free cash flow to between $323 million and $334 million, indicating improved financial health.

NASDAQ.COM

07-01NASDAQ.COM

Progress Software Q2 Sales and Earnings Exceed Expectations

Performance Beat: Progress Software reported adjusted earnings of $1.62 per share and sales of $253.5 million for Q2 2023, surpassing Wall Street's expectations of $1.49 earnings and $242.74 million in sales, indicating strong market demand and profitability.
Significant Sales Growth: The company experienced a 6.7% year-over-year increase in sales for the quarter, with net income soaring 24% compared to the prior year, driven by robust performance from its AI-powered product offerings, further solidifying its competitive position in the software industry.
Guidance Raised: Progress Software raised its full fiscal year sales guidance to between $990 million and $1.02 billion, with adjusted earnings per share projected between $6.09 and $6.21, reflecting confidence in future performance and sustained market demand.
Cash Flow Targets Increased: The company also increased its targets for adjusted free cash flow and unlevered free cash flow to between $271 million and $283 million and $323 million to $334 million, respectively, demonstrating improved financial health and enhanced capacity for future investments.

Yahoo Finance

07-01Yahoo Finance

Progress Software Reports Strong Earnings Exceeding Expectations

Revenue Growth: Progress Software achieved $253 million in revenue, a 7% year-over-year increase, demonstrating robust market performance; however, the modest 2% growth in ARR indicates potential sustainability concerns, yet overall results exceeded market expectations, boosting investor confidence.
Profitability Improvement: The company reported a 40% operating margin for the quarter and earnings per share of $1.62, reflecting a 16% year-over-year increase, which highlights significant progress in cost control and profitability enhancement, likely attracting more investor interest.
Cash Flow Performance: With adjusted free cash flow of $79 million, the company showcased strong cash generation capabilities and successfully reduced its debt by $110 million in the first half of the fiscal year, further improving its financial health.
Future Outlook: Although the Q3 revenue guidance was slightly below market expectations, the company raised its full-year revenue guidance, reflecting confidence in future performance, while also facing challenges in aligning acquisition targets with AI relevance, necessitating careful navigation of market dynamics.

seekingalpha

07-01seekingalpha

Progress Software Q2 Earnings Exceed Expectations, Full-Year Guidance Raised

Strong Performance: Progress Software reported Q2 2026 revenue of $253 million, exceeding expectations and growing approximately 7% year-over-year, showcasing robust performance particularly in data platform products, thereby reinforcing its market position.
Guidance Raised: The company raised its full-year 2026 revenue outlook to between $990 million and $1 billion, with expected earnings per share between $6.09 and $6.21, reflecting management's confidence in future growth and strong market demand.
Cash Flow Strength: Adjusted free cash flow reached $79 million in Q2, with management projecting significant increases in annual free cash flow to between $271 million and $283 million, indicating positive progress in capital allocation and financial health.
Debt Management Strategy: The company reduced approximately $110 million in debt during the first half of the fiscal year and plans to continue debt repayment and share repurchases, aiming to optimize its capital structure and enhance financial flexibility.

Wall Street analysts forecast PRGS stock price to rise

1 Analyst Rating

Wall Street analysts forecast PRGS stock price to rise

0 Buy

1 Hold

0 Sell

Hold

Current: 0.000

Low

45.00

Averages

45.00

High

45.00

Current: 0.000

Low

45.00

Averages

45.00

High

45.00

Oppenheimer

Outperform

maintain

$57 -> $50

AI Analysis

2026-07-01

Reason

Oppenheimer

Price Target

$57 -> $50

AI Analysis

2026-07-01

maintain

Outperform

Reason

Oppenheimer lowered the firm's price target on Progress Software to $50 from $57 and keeps an Outperform rating on the shares after the company delivered a solid Q2. Revenue and earnings were ahead of expectations, with top-line strength and some large deal pull-forward flowing through to the bottom line on good expense discipline, the firm notes.

Citi

Fatima Boolani

Buy

downgrade

$60 -> $46

2026-04-01

Reason

Citi

Fatima Boolani

Price Target

$60 -> $46

2026-04-01

downgrade

Buy

Reason

Citi analyst Fatima Boolani lowered the firm's price target on Progress Software to $46 from $60 and keeps a Buy rating on the shares.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for PRGS

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Valuation Metrics

The current forward P/E ratio for Progress Software Corp (PRGS.O) is 6.53, compared to its 5-year average forward P/E of 10.96. For a more detailed relative valuation and DCF analysis to assess Progress Software Corp's fair value, Click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

dotted line Image

5Y Average PE

10.96

Current PE

6.53

Overvalued PE

13.30

Undervalued PE

8.62

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

dotted line Image

5Y Average EV/EBITDA

10.04

Current EV/EBITDA

8.40

Overvalued EV/EBITDA

12.54

Undervalued EV/EBITDA

7.55

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

dotted line Image

5Y Average PS

2.94

Current PS

1.58

Overvalued PS

3.65

Undervalued PS

2.22

Financials

AI Analysis

Annual

Quarterly

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Frequently Asked Questions

What is Progress Software Corp (PRGS) stock price today?

The current price of PRGS is 39.21 USD — it has increased 1.21

What is Progress Software Corp (PRGS)'s business?

Progress Software Corporation is a provider of artificial intelligence (AI)-powered digital experience and infrastructure software. The Company provides software products that enable its customers to develop, deploy and manage responsible AI-powered applications and digital experiences. It also offers retrieval-augmented generation (RAG) -as-a-service products. Its products include Sitefinity, Corticon, MOVEit, ShareFile, Podio, Kendo UI, Telerik, Kemp LoadMaster, Flowmon, WhatsUp Gold, Chef Infrastructure Management, Chef Desktop, Chef App Delivery, MarkLogic, Semaphore, OpenEdge, DataDirect Connectors, Hybrid Data Pipeline, and Automate MFT. MOVEit Transfer Software offers an on-premises Managed File Transfer (MFT) server, supporting compliance with internal governance requirements and regulations. WhatsUp Gold is an information technology (IT) infrastructure monitoring software providing visibility into network devices, servers, virtual machines, cloud, and wireless environments.

What is the price predicton of PRGS Stock?

Wall Street analysts forecast PRGS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PRGS is45.00 USD with a low forecast of 45.00 USD and a high forecast of 45.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

What is Progress Software Corp (PRGS)'s revenue for the last quarter?

Progress Software Corp revenue for the last quarter amounts to 253.47M USD, increased 6.79

What is Progress Software Corp (PRGS)'s earnings per share (EPS) for the last quarter?

Progress Software Corp. EPS for the last quarter amounts to 0.50 USD, increased 28.21

How many employees does Progress Software Corp (PRGS). have?

Progress Software Corp (PRGS) has 2801 emplpoyees as of July 08 2026.

What is Progress Software Corp (PRGS) market cap?

Today PRGS has the market capitalization of 1.61B USD.