Progress Software Corporation

NasdaqGS:PRGS Stock Report

Market Cap: US$1.1b

Progress Software Past Earnings Performance

Past criteria checks 4/6

Progress Software's earnings have been declining at an average annual rate of -5.2%, while the Software industry saw earnings growing at 21.4% annually. Revenues have been growing at an average rate of 14.4% per year. Progress Software's return on equity is 17%, and it has net margins of 8.6%.

Key information

-5.18%

Earnings growth rate

-4.57%

EPS growth rate

Software Industry Growth17.33%
Revenue growth rate14.44%
Return on equity17.04%
Net Margin8.61%
Last Earnings Update28 Feb 2026

Recent past performance updates

Recent updates

PRGS: AI And M&A Rumors Will Support Future Multiple Repricing

Analysts have reduced their average price targets on Progress Software by double digit dollar amounts, bringing them closer to a $50.83 fair value estimate as they adjust assumptions around discount rates and future P/E expectations. Analyst Commentary Recent research updates cluster around lower price targets that move closer to the cited fair value estimate, but the tone is not uniformly negative.

PRGS: AI And M&A Optionality Will Support Future Multiple Rebound

Analysts have reduced their average price targets on Progress Software, with the modeled fair value moving from about $65.50 to roughly $50.83. This change reflects updated views on revenue growth, profit margins and risk after a series of target cuts across major firms.

Progress Software Q1 Earnings Preview: Slowing Down Operations Is Concerning

Mar 25

PRGS: AI And Buybacks Will Support A Repricing Of Bearish Concerns

Analysts have lifted the average price target on Progress Software by $6, reflecting updated views on its growth, profitability, and P/E assumptions after recent research revisions from multiple firms. Analyst Commentary Street research on Progress Software has not been uniformly positive.

PRGS: AI Product Momentum Will Support Rebound In Market Multiple

The updated analyst price target for Progress Software changes from $70.00 to $65.50 as analysts factor in revised assumptions for revenue growth, profit margins, and discount rates. The update also reflects a higher future P/E multiple in response to recent Street research.

PRGS: AI And Buybacks Will Support A More Constructive Forward Outlook

Analysts have adjusted their view on Progress Software, with the latest research indicating a modest change in the price target in dollar terms as they refine assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Recent research on Progress Software has included both upward and downward price target revisions, which signals that opinion is mixed and that the risk and reward trade off is being reassessed.

PRGS: AI Tools And Buybacks Will Support Cautious But Balanced Outlook

Analysts have nudged their price target on Progress Software modestly higher by $6 overall, reflecting updated assumptions around discount rates, revenue growth, profit margins, and future P/E after a mix of recent target increases and reductions in Street research. Analyst Commentary Recent research around Progress Software reflects a mixed but generally cautious tone, even with the modest net increase in the overall price target figure.

PRGS: AI Offerings And Buybacks Will Support Balanced Future Margin Profile

Analysts have recently adjusted their price targets on Progress Software in a mixed fashion, with one firm lifting its target by US$6 and others trimming theirs by US$3 and US$5. These moves reflect updated views on growth, margins and appropriate forward P/E multiples.

PRGS: AI Platform Expansion And M&A Execution Will Support Future Margin Strength

Analysts have reduced their fair value estimate for Progress Software from US$50 to US$45, citing updated assumptions around the discount rate, revenue growth, profit margins and future P/E levels. What's in the News Progress was included as one of nine vendors in The Forrester Wave: Digital Experience Platforms, Fourth Quarter 2025, with its Agentic RAG earning the highest score of 5.0 in the Search criterion (Key Developments).

PRGS: AI Demand And M&A Execution Will Drive Margin Expansion Ahead

Analysts have trimmed their blended price target on Progress Software to $50 from $57, reflecting expectations for slower top-line growth, despite strong execution, improving margins, and continued benefits from acquisitions and AI-driven demand. Analyst Commentary Analyst commentary on Progress Software reflects a mixed backdrop, with strong recent execution and margin performance counterbalanced by concerns around the sustainability of growth and the stock's risk reward profile.

Why We're Not Concerned About Progress Software Corporation's (NASDAQ:PRGS) Share Price

Jul 21
Why We're Not Concerned About Progress Software Corporation's (NASDAQ:PRGS) Share Price

Is Progress Software Corporation (NASDAQ:PRGS) Trading At A 50% Discount?

Apr 24
Is Progress Software Corporation (NASDAQ:PRGS) Trading At A 50% Discount?

Is Progress Software (NASDAQ:PRGS) A Risky Investment?

Mar 27
Is Progress Software (NASDAQ:PRGS) A Risky Investment?

Progress Software Corporation's (NASDAQ:PRGS) Share Price Not Quite Adding Up

Mar 03
Progress Software Corporation's (NASDAQ:PRGS) Share Price Not Quite Adding Up

Progress Software Q4 Earnings Preview: Underappreciated For Its Earnings Power

Jan 19

At US$68.73, Is It Time To Put Progress Software Corporation (NASDAQ:PRGS) On Your Watch List?

Nov 22
At US$68.73, Is It Time To Put Progress Software Corporation (NASDAQ:PRGS) On Your Watch List?

Progress Software Corporation (NASDAQ:PRGS) Not Flying Under The Radar

Nov 07
Progress Software Corporation (NASDAQ:PRGS) Not Flying Under The Radar

Progress Software's (NASDAQ:PRGS) Earnings Seem To Be Promising

Oct 15
Progress Software's (NASDAQ:PRGS) Earnings Seem To Be Promising

Progress Software Q3 Earnings: This Stock Is Ready To Move Higher

Sep 25
User avatar

ShareFile Acquisition To Catapult Digital Experience Leader Into A New Era Of Growth And Profitability

The acquisition of ShareFile is poised to significantly boost Progress Software's revenue and ARR by expanding digital experience offerings and leveraging a loyal customer base.

Progress Software Is Investing In Its Long-Term Position In AI

Sep 10

An Intrinsic Calculation For Progress Software Corporation (NASDAQ:PRGS) Suggests It's 49% Undervalued

Aug 30
An Intrinsic Calculation For Progress Software Corporation (NASDAQ:PRGS) Suggests It's 49% Undervalued

Progress Software's (NASDAQ:PRGS) Dividend Will Be $0.175

Aug 06
Progress Software's (NASDAQ:PRGS) Dividend Will Be $0.175

Progress Software (NASDAQ:PRGS) Will Pay A Dividend Of $0.175

Jul 23
Progress Software (NASDAQ:PRGS) Will Pay A Dividend Of $0.175

Revenue & Expenses Breakdown

How Progress Software makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:PRGS Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
28 Feb 2698885321196
30 Nov 2597873319192
31 Aug 2594049309184
31 May 2586958286169
28 Feb 2580757271158
30 Nov 2475368254146
31 Aug 2471583244139
31 May 2471273245138
29 Feb 2471569247137
30 Nov 2369470239132
31 Aug 2367579235127
31 May 2365181230123
28 Feb 2362198221116
30 Nov 2260295219115
31 Aug 2258586213113
31 May 2258195205110
28 Feb 2255580199107
30 Nov 2153178191103
31 Aug 2151481182101
31 May 214767417296
28 Feb 214547816091
30 Nov 204428015489
31 Aug 204375715188
31 May 204344715490
29 Feb 204333815790
30 Nov 194132615589
31 Aug 193944015285
31 May 193804114881
28 Feb 193734514479
30 Nov 183795014280
31 Aug 183975713881
31 May 184025413881
28 Feb 184025213780
30 Nov 173892914577
31 Aug 17399-5314778
31 May 17404-5615481
28 Feb 17407-5916284
30 Nov 16405-5616888
31 Aug 16400917287
31 May 16393-317586
29 Feb 16386-517986
30 Nov 15378-918287
31 Aug 153631517779
31 May 153473016773

Quality Earnings: PRGS has high quality earnings.

Growing Profit Margin: PRGS's current net profit margins (8.6%) are higher than last year (7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: PRGS's earnings have declined by 5.2% per year over the past 5 years.

Accelerating Growth: PRGS's earnings growth over the past year (49.8%) exceeds its 5-year average (-5.2% per year).

Earnings vs Industry: PRGS earnings growth over the past year (49.8%) exceeded the Software industry 16%.

Return on Equity

High ROE: PRGS's Return on Equity (17%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/30 20:24
End of Day Share Price 2026/04/29 00:00
Earnings2026/02/28
Annual Earnings2025/11/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Progress Software Corporation is covered by 16 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark SchappelBenchmark Company
Tony FigueiredoCFRA Research
Fatima BoolaniCitigroup Inc