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Progress Software Corporation (NASDAQ:PRGS – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $35.55 and traded as high as $39.50. Progress Software shares last traded at $38.61, with a volume of 444,191 shares traded.

Analysts Set New Price Targets Several research analysts have commented on PRGS shares. Zacks Research upgraded shares of Progress Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings upgraded Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $55.00 target price on shares of Progress Software in a report on Friday, October 2nd. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer decreased 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Check Out Our Latest Stock Report on Progress Software

Progress Software Stock Performance The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.65 and a beta of 0.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.33. The stock’s 50-day moving average is $41.63 and its 200-day moving average is $35.55. Progress Software (NASDAQ:PRGS – Get Free Report) last issued its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. The firm had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. 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. On average, analysts predict that Progress Software Corporation will post 4.78 EPS for the current fiscal year.

Insider Activity at Progress Software In related news, insider Yufan Stephanie Wang sold 1,245 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $37.00, for a total transaction of $46,065.00. Following the sale, the insider owned 3,487 shares of the company’s stock, valued at $129,019. This trade represents a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Progress Software A number of institutional investors and hedge funds have recently bought and sold shares of PRGS. Geneos Wealth Management Inc. acquired a new position in Progress Software in the 1st quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Progress Software during the second quarter valued at $28,000. Parallel Advisors LLC raised its stake in shares of Progress Software by 142.0% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after acquiring an additional 653 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Progress Software by 192.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after purchasing an additional 877 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Progress Software during the second quarter worth $61,000.

Progress Software Company Profile (Get Free Report)

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

Progress Software (PRGS - Free Report) is a stock many investors are watching right now. PRGS is currently sporting a Zacks Rank #1 (Strong Buy) and an A for Value.

We should also highlight that PRGS has a P/B ratio of 4. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 6.69. Over the past 12 months, PRGS's P/B has been as high as 7.05 and as low as 3.95, with a median of 5.89.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. PRGS has a P/S ratio of 1.52. This compares to its industry's average P/S of 3.57.

Finally, investors will want to recognize that PRGS has a P/CF ratio of 9.86. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. PRGS's P/CF compares to its industry's average P/CF of 16.96. Over the past 52 weeks, PRGS's P/CF has been as high as 18.02 and as low as 9.74, with a median of 14.83.

Value investors will likely look at more than just these metrics, but the above data helps show that Progress Software is likely undervalued currently. And when considering the strength of its earnings outlook, PRGS sticks out as one of the market's strongest value stocks.

BOSTON--(BUSINESS WIRE)-- #A11y--Applause, the global leader in managed software testing services and digital quality, today announced it will co-host a session with Progress Software at the 2026 M-Enabling Summit, the premier global gathering advancing digital accessibility and inclusive technology, taking place October 5-7 in Arlington, Virginia. Speakers William Reuschel, Inclusive Design Practice Lead, Applause and John McCartney, Senior Manager of User Experience, Progress ShareFile, will lead the.

New release extends trusted enterprise AI across delivery, retrieval and content ingestion, enabling organizations to scale AI experiences without rebuilding existing deployments

BURLINGTON, Mass., Oct. 01, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), an AI infrastructure software leader, today announced new capabilities within Progress® Agentic RAG, an agentic retrieval-augmented generation (RAG) platform for AI agents and LLMs that connects enterprise knowledge to AI-powered experiences through a shared Agentic Knowledge Layer. The release includes a native Microsoft Teams application, a new Smart Agent for autonomous multistep retrieval and a WordPress plugin that improves content ingestion, fidelity and governance.

As organizations move AI agents beyond simple chat into systems that can plan, retrieve information and act across the business, complexity grows quickly. Engineering teams often find themselves building and maintaining custom orchestration logic for every system an agent must access. At the same time, agents that rely only on pre-indexed content can return incomplete or outdated answers, may require employees to continue switching between applications to find the information they need, limit adoption and reduce the value of AI investments.

The latest Progress Agentic RAG platform release gives organizations two complementary ways to put their knowledge behind AI agents. Content can be ingested in advance through a governed Knowledge Box and kept continuously synchronized for fast, trusted retrieval. In addition, native Model Context Protocol (MCP) support in the platform's Smart Agent enables agents to access live business systems and web sources at the moment a question is asked, without duplicating data or requiring custom integrations for every system. Together, these capabilities help organizations bring AI into the tools employees use every day, deliver answers that span multiple systems and keep information current, all while preserving governance and avoiding costly rebuilds.

"The next phase of enterprise AI will not be defined by systems that simply retrieve information. It will be defined by AI that can navigate complex questions, work across organizational knowledge and deliver answers where people already work," said John Ainsworth, EVP and General Manager, Application and Data Platform, Progress Software. "The latest release of Progress Agentic RAG allows organizations to more easily address increasingly complex questions by building on its strong foundation of delivering trusted AI experiences that drive successful business outcomes."

New capabilities include:

Native Microsoft Teams Application
Available through the Microsoft Store, the Progress Agentic RAG platform Teams app brings trusted, source-cited AI experiences directly into Teams chats and channels. By bringing AI into a collaboration platform employees already use every day, organizations can accelerate adoption and give users access to enterprise knowledge, while maintaining existing permissions and governance controls without leaving their existing workflows. Smart Agent for Multistep Retrieval
The new Smart Agent plans queries, creates sub-questions, retrieves information across a Knowledge Box, MCP-connected applications and web sources and evaluates results until sufficient information has been gathered. This enables organizations to answer more complex cross-system questions while reducing the need for custom orchestration and source-routing logic. WordPress Plugin for Richer Content Ingestion
The native WordPress plugin gives administrators greater control over how WordPress content is indexed and refreshed within Progress Agentic RAG. By preserving content structure, metadata and taxonomy information, it improves retrieval quality, helps keep AI experiences aligned with current content and strengthens governance of enterprise knowledge. Existing Progress Agentic RAG customers inherit all three capabilities using the same indexed content, access controls and quality framework already in place, with no reindexing, pipeline rebuilds or architectural changes required.

The latest release of Progress Agentic RAG is now available. For more information, visit https://www.progress.com/agentic-rag.

About Progress Software

Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.

Progress and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See trademarks for appropriate markings. All rights in any other trademarks contained herein are reserved by their respective owners and their inclusion does not imply an endorsement, affiliation or sponsorship as between Progress and the respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]

Progress Software Corporation (PRGS) Q3 2026 Earnings Call September 30, 2026 5:00 PM EDT

Company Participants

Michael Micciche - Senior Vice President of Investor Relations
Yogesh Gupta - CEO, President & Director
Anthony Folger - Executive VP, CFO & Treasurer

Conference Call Participants

Lawrence Vensko - Guggenheim Securities, LLC, Research Division
Fatima Boolani - Citigroup Inc., Research Division
Lucky Schreiner - D.A. Davidson & Co., Research Division
John DiFucci - Guggenheim Securities, LLC, Research Division

Presentation

Operator

Hello, and welcome to Progress Software's Third Quarter Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Michael Micciche, SVP of Investor Relations. You may begin.

Michael Micciche
Senior Vice President of Investor Relations

Thank you, Tawanda. It's nice to have you back with us. Good afternoon, everyone, and thanks for joining us for Progress Software's Third Fiscal Quarter 2026 Financial Results Conference Call. Joining me on the call are Yogesh Gupta, our President and CEO, and Anthony Folger, our Chief Financial Officer. Before we get started, please consider our Safe Harbor statement. During this call, we will discuss our outlook for future financial and operating performance, corporate strategy, product plans, cost initiatives, our acquisition and integration of Domo, and other information that might be considered forward-looking.

Such forward-looking information represents Progress Software's outlook and guidance only as of today and is subject to risks and uncertainties, and our actual results may differ materially. For a description of the factors that may affect our future results and operations, please refer to the risk factors in our SEC filings, particularly the risk factor section in our most recent Form 10-K and the latest 10-Q filing, which was filed in conjunction with this announcement.

Progress assumes no obligation to update forward-looking statements included in this call. Additionally, please note that all the financial figures

Progress Software: Making Progress Driven by the AI RevolutionProgress Software NASDAQ: PRGS reported third-quarter fiscal 2026 results marked by low-single-digit annual recurring revenue growth, expanded operating margins and higher free cash flow, while outlining integration plans for its recently completed acquisition of Domo’s AI and data platform business.

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President and CEO Yogesh Gupta said annual recurring revenue, or ARR, rose more than 1% year over year on a constant-currency basis to $873 million. Net retention was 99%, remaining within the company’s expected 99% to 100% range. Quarterly revenue totaled $246 million, near the midpoint of Progress’ previous guidance range, while non-GAAP earnings per share increased 13% from a year earlier to $1.69, above the high end of management’s outlook.

Market Got It Wrong—Why Progress Software Deserves a Second LookGupta cited strength from OpenEdge, DataDirect, MOVEit and LoadMaster, among other products. He said customers in financial services, health care, energy, technology, government and law enforcement expanded or renewed relationships with the company, citing reliability, security, compliance and operational efficiency.

Margins and cash flow improve Chief Financial Officer Anthony Folger said Progress generated non-GAAP operating income of $105 million in the third quarter, up 6% year over year. Operating margin reached 43%, an increase of 300 basis points from the prior-year period, as total costs and operating expenses declined about 6% to $141 million.

Progress Software Stock Back in the Green After Beating ForecastsAdjusted free cash flow increased 17% year over year to $87 million, while unlevered free cash flow rose 14% to $101 million. Year-to-date adjusted free cash flow was $265 million, up 44% from the comparable period last year.

Folger attributed part of the cash-flow improvement to stronger collections and the resolution of operational backlog related to the prior ShareFile acquisition. Days sales outstanding improved to 42 days, compared with 55 days a year earlier and 73 days at the end of fiscal 2025.

The company ended the quarter with $114 million in cash and cash equivalents, total debt of about $1.24 billion and net debt of approximately $1.1 billion. Its net leverage ratio was about 2.7 times trailing-12-month results. During the quarter, Progress repaid $60 million on its revolving credit facility, bringing year-to-date debt repayment to $170 million, and repurchased about $17 million in stock. The company had approximately $131 million remaining under its buyback authorization.

Domo acquisition adds AI and data capabilities Progress closed its acquisition of Domo’s AI and data platform business after the quarter ended. The company announced a $400 million cash purchase price, though Folger said the actual cash outlay was $390 million after considering cash received at closing and assumed transaction expenses. Progress funded the transaction with its revolving credit facility and said it intends to reduce debt quickly.

Gupta said Domo’s cloud-native platform adds real-time data integration and transformation, analytics, visualization, automation and agentic orchestration to Progress’ existing data capabilities. He said Progress sees Domo as a way to help customers connect enterprise data, apply artificial intelligence to that data and deliver insights and actions within business workflows.

Management said Domo’s revenue currently annualizes at approximately $300 million, but expects it to settle into a steady-state range of $280 million to $290 million as the company manages planned churn in legacy seat-based contracts and further reduces professional-services revenue. More than 85% of Domo’s ARR comes from its consumption-based platform, according to Folger, and that segment has higher net retention rates than the legacy seat-based business.

Progress plans to shift more professional-services delivery toward partners, a move management said should be margin accretive. Gupta said the company’s focus initially will be integrating Domo, improving customer retention and delivering planned operating targets rather than incorporating cross-selling assumptions into its financial model.

Management expects Domo integration to be completed by the end of fiscal 2027. Gupta said Domo is expected to add more than $100 million of annual EBITDA once fully integrated. Folger said the acquisition was valued at roughly 1.44 times steady-state revenue and about 3.5 times pro forma EBITDA.

Margin effects and outlook For fiscal 2027, Folger said Domo is expected to operate at slightly below a 30% margin for the full year as synergies ramp. That could reduce Progress’ consolidated operating margin by roughly 100 to 200 basis points, with a margin otherwise in the 38% to 39% range potentially falling to 36% to 37% during integration. Management said this pressure is related to integration timing and should reverse as synergies are realized, with Domo’s longer-term margin profile expected to resemble Progress’ historical levels.

The company also expects approximately $21 million of incremental interest expense in fiscal 2027 from the $390 million revolver draw, though Folger said Domo’s earnings contribution should exceed the financing cost. He said margin dilution and much of the interest burden should reverse further in fiscal 2028 as synergies are fully realized and debt is repaid.

For the fourth quarter of fiscal 2026, including roughly two months of Domo activity, Progress forecast revenue of $297 million to $305 million and earnings per share of $1.24 to $1.33. For the full year, the company raised its revenue outlook to $1.044 billion to $1.052 billion and projected a 38% operating margin, adjusted free cash flow of $275 million to $283 million, unlevered free cash flow of $330 million to $338 million, and earnings per share of $6.15 to $6.23.

Gupta said Progress also is evaluating whether Domo’s consumption-based pricing approach could be applied more broadly across its portfolio. He said demand for data, infrastructure capacity and AI-related workloads is increasing, while seat-based models face pressure as automated AI agents increasingly handle work traditionally performed by users.

About Progress Software (NASDAQ:PRGS)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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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New Progress Domo release helps organizations deliver trusted data and AI outcomes faster with greater pipeline visibility, governed AI experiences and auditable automation

BURLINGTON, Mass., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), an AI infrastructure software leader, today announced the September 2026 product release for its newly-acquired Domo® data and AI platform, led by a significant update to Progress® Domo Magic ETL that helps data teams build, inspect and troubleshoot data pipelines more efficiently. The release also expands AI capabilities in Progress Domo by turning AI Chat into a more active analytics builder and giving administrators clearer oversight of AI-triggered work and third-party AI usage.

The release is focused on helping organizations accelerate trusted analytics and AI initiatives by simplifying data preparation, expanding self-service insights and strengthening governance. New capabilities span the entire analytics lifecycle, from preparing and enriching data to generating insights and managing AI-driven processes and actions.

“Organizations do not need more data and tools. They need confidence in the information insights and business processes that drive decisions. This release helps our customers to move faster from trusted data to governed AI-powered outcomes while maintaining the visibility and control required at enterprise scale,” said John Ainsworth, EVP and General Manager, Application and Data Platform, Progress Software.

Build trusted data pipelines faster
Data teams need confidence that the data powering analytics and AI is accurate and performing as expected. Data practitioners will now have greater visibility and control with new Domo Magic ETL observability capabilities that help identify issues more quickly, understand the impact of data transformation and shorten the time required to troubleshoot and optimize pipelines.

New observability features such as Executive Details Heatmaps and DataFlow Versioning provide visibility into how data changes as it moves through a pipeline, highlight processing bottlenecks and enable teams to compare current workflows against previous versions. Organizations will be able to improve data reliability while reducing effort required to maintain complex data flows.

“Reliable AI starts with data teams understanding what happens inside their pipelines,” said Ben Schein, Vice President of AI and Analytics, Progress Software. “These Magic ETL updates help builders catch issues sooner and prepare trusted data for the analytics, AI tools and automated workflows their businesses rely on.”

Extract business insights from unstructured data
Organizations increasingly need to simplify extracting value from unstructured data, such as customer feedback, support interactions and other text-based content. New AI-powered capabilities in Domo Magic ETL help teams analyze and classify text-based information within existing workflows without customized scripts or external AI APIs. The Sentiment Analysis Tile evaluates text from sources such as surveys and support tickets while the Classification Tile organizes unstructured text into predefined categories or custom tags. A new multi-statement SQL tile further improves flexibility for technical users, enabling more efficient data preparation and transformation across complex datasets.

Move quickly from questions to action with AI Chat
Domo AI Chat can now analyze multiple DataSets and documents in one conversation, helping users analyze data across multiple sources, generate interactive visualizations and initiate business processes. Organizations can accelerate decision-making while maintaining existing permissions and governance controls. Administrators can configure specialized assistants for a particular application or account, while DomoStats records Domo AI Pro operations for review. The updated Domo AI Chat is generally available to customers on consumption pricing.

Increase visibility and control over AI operations
Organizations can strengthen AI governance with new workflow auditing capabilities and enhanced package management that identifies application and workflow dependencies, allowing developers to remove obsolete or sensitive packages without unintentionally breaking a process. The Domo platform also adds new AI Admin Connectors that provide visibility into AI service consumption. Initial integrations include services from OpenAI, Anthropic and Cursor. Organizations can combine this information with employee directories to examine usage by team or cost center. AI Admin Connectors are generally available through the Domo Appstore. Together, these capabilities improve accountability, oversight and operational control as AI adoption scales.

Now in Beta! Extend AI across data and operations
Domo customers can now test an expanded AI Library with beta MCP toolkits that facilitate operational work across Domo through authorized assistants. Users can ask an assistant to design a workflow, guide an application through a Domo Sandbox promotion, and conduct routine tasks such as alerts and workspace upkeep with the assurance that all actions are subject to existing user permissions.

Snowflake Semantic Views allows customers to use established Snowflake relationships and metrics in Domo without copying the underlying data or rebuilding the same logic. Analysts can use those governed definitions in Domo while Snowflake remains the source of truth.

Additional beta capabilities include:

Calculated Columns Rule Builder: Visual interface for conditional columns without writing DQLActivity Log Webhooks: Real-time security and admin events sent to external monitoring systemsCloud integration calendar updates: Custom fiscal calendars and regional date settings for Snowflake, Databricks and BigQuery integrations Availability varies by capability and account configuration. To learn more about the September 2026 product release, join us for the Domo Connections tour.

About Progress Software 
Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.

Progress, Domo, and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See Trademarks for appropriate markings. All rights in any other trademarks contained herein are reserved by their respective owners and their inclusion does not imply an endorsement, affiliation or sponsorship as between Progress and the respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on September 25th, the Representative disclosed that they had sold between $15,001 and $50,000 in Progress Software stock on August 31st. The trade occurred in the Representative’s “HERN FAMILY FOUNDATION” account.

Representative Kevin Hern also recently made the following trade(s):

Sold $15,001 – $50,000 in shares of CenterPoint Energy (NYSE:CNP) on 9/15/2026. Sold $1,001 – $15,000 in shares of TJX Companies (NYSE:TJX) on 9/15/2026. Sold $15,001 – $50,000 in shares of STERIS (NYSE:STE) on 9/15/2026. Sold $1,001 – $15,000 in shares of Seagate Technology (NASDAQ:STX) on 9/15/2026. Sold $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 9/14/2026. Sold $1,001 – $15,000 in shares of Marsh & McLennan Companies (NYSE:MRSH) on 9/14/2026. Sold $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 9/14/2026. Sold $15,001 – $50,000 in shares of Home Depot (NYSE:HD) on 9/14/2026. Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 9/14/2026. Sold $15,001 – $50,000 in shares of Emerson Electric (NYSE:EMR) on 9/14/2026. Progress Software Stock Performance NASDAQ PRGS opened at $39.41 on Tuesday. The stock has a market cap of $1.62 billion, a PE ratio of 19.13, a P/E/G ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $42.06 and a 200-day moving average of $35.03. Progress Software Corporation has a 52-week low of $23.82 and a 52-week high of $47.37.

Progress Software (NASDAQ:PRGS – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the business earned $1.40 EPS. Progress Software’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current year. Insider Buying and Selling In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the transaction, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades A number of analysts have recently weighed in on the company. Oppenheimer cut their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a report on Friday. DA Davidson boosted their price objective on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

Check Out Our Latest Report on PRGS

Hedge Funds Weigh In On Progress Software A number of institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Progress Software in the second quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Progress Software during the first quarter valued at about $26,000. Parallel Advisors LLC boosted its position in shares of Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after buying an additional 877 shares during the period.

About Representative Hern Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma’s 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2027.

Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma’s 1st Congressional District. He declared candidacy for the 2026 election.

Kevin Hern went into business as a McDonald’s franchisee in 1999. He acquired 10 McDonald’s franchises by 2012. He served on the McDonald’s National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

Progress Software Company Profile (Get Free Report)

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.

Read More Five stocks we like better than Progress Software Six Flags Launches FlexPay—Is There Any FUN Left in the Stock? Brewing Trouble? Starbucks Spills the Beans on 250 Store Closures Stitch Fix Stock Plunges as Guidance Puts the Turnaround on Pause Harley-Davidson Insiders Are Buying: Is HOG Finally Turning Around? Receive News & Ratings for Progress Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software and related companies with MarketBeat.com's FREE daily email newsletter.

SILICON SLOPES, Utah--(BUSINESS WIRE)---- $DOMO #agenticAI--Domo, Inc. (Nasdaq: DOMO) today announced the completion of its previously announced sale to Progress Software Corporation (Nasdaq: PRGS). With the transaction complete, Domo, Inc. has changed its name to Huckleberry.ai, Inc. (the “Company” or “Huckleberry”). Josh James will continue to lead the Company alongside its current Board of Directors. Through the transaction, Progress acquired substantially all of the Company's assets and employees, excluding the.

BURLINGTON, Mass., Sept. 16, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), a member of the Russell 2000 Index and an AI infrastructure software leader, today announced that it will release financial results for its fiscal third quarter of 2026 after the market close on Wednesday, September 30, 2026. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company’s third quarter of fiscal year 2026 ended on August 31, 2026.

Conference Call Details
A live webcast of the call will be available using this link.

To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage participants to dial into the conference call 15 minutes ahead of the scheduled start time.

An archived version of the conference call and supporting materials will be available on the Progress Investor Relations webpage after the live conference call.

About Progress Software
Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.

Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.  

Investor Contact: Press Contact:Michael Micciche Jeff YoungProgress Software Progress Software+1 781-850-8450 +1 [email protected] [email protected]
Source: Progress Software Corporation

Experts from Amazon, Microsoft, Moody’s, Boeing, Boston Consulting Group and other organizations will share strategies for turning enterprise information into action

BURLINGTON, Mass., Sept. 09, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), an AI infrastructure software leader, today announced the speaker lineup for the Progress Data Platform Summit 2026, taking place September 14-16 at the Hyatt Regency Reston in Reston, Virginia. Registration is now open.

The summit brings together technology leaders to explore how organizations achieve measurable business results from more effective data and AI initiatives. Through expert-led sessions, interactive discussions and networking, attendees will learn practical approaches for managing fragmented data effectively, building trusted information assets and operationalizing AI with the context and transparency needed to move confidently from pilot to production.

The event will feature a keynote presentation from Jonathan Brill, Futurist-in-Residence at Amazon and Forbes’ #1-ranked futurist, who will examine the convergence of AI, geopolitical, economic and societal trends and share strategies for turning emerging ideas into business action.

Featured speakers will share real-world experiences and lessons learned from innovative organizations including:

Kenyon Wilker, Senior Solutions Architect, AWSRyan Collins, Senior Manager, Data Governance, BoeingAkhil Raj, Global Product Director, Boston Consulting GroupBalvinder Dang, CEO, DatavidYonah Levenson, CEO/Strategist, Metadata Taxonomy StrategiesNicole Serafino, Principal Cloud and AI Solution Engineer, MicrosoftChris Smith, Enterprise Architect, Mississippi Division of MedicaidAri Lehavi, Head of Applied AI, Moody’sAijaz Baloch, EVP and Chief Data Scientist, Techlogix Progress executives and product experts will also share insights, including John Ainsworth, EVP and General Manager, Application and Data Platform; Cori Moore, President, Progress Federal Solutions; Matthieu Jonglez, SVP, Product and Engineering; and Eudald Camprubi, Software Fellow.

“Organizations are generating more data than ever, yet many still struggle to turn that information into faster decisions and measurable business results,” said John Ainsworth, EVP and General Manager, Application and Data Platform, Progress Software. “The Progress Data Platform Summit will showcase how organizations, from enterprise to government, can make better business decisions faster, helping improve performance and achieve better business outcomes.”

In his keynote, John Ainsworth will share a perspective on how the addition of Domo AI and data platform's capabilities to the Progress Data Platform could help organizations move more quickly from information to insight and from insight to action.

Sessions will examine how organizations are improving productivity, managing risk, accelerating innovation and increasing the value of enterprise information. Attendees will learn how leading enterprises and government agencies are establishing trusted data practices, operationalizing AI, strengthening cybersecurity and creating agile, data-driven organizations.

Progress is also inviting customers and partners to participate in the new Progress Data Platform Validation Program. The program provides opportunities to engage with Progress experts, share feedback based on enterprise requirements and use cases and help shape the continued evolution of Progress Data Platform and its capabilities.

To register and view the complete agenda and speaker lineup, visit the Progress Data Platform Summit 2026 webpage. To learn more about the Progress Data Platform Validation Program and to register your interest, visit the program webpage.

About Progress Software
Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.

Progress and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See trademarks for appropriate markings. All rights in any other trademarks contained herein are reserved by their respective owners and their inclusion does not imply an endorsement, affiliation or sponsorship as between Progress and the respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4c58640-dc6c-456e-82fb-8a90c56a9c34

Progress Data Platform Summit 2026 Experts from Amazon, Microsoft, Moody’s, Boeing, Boston Consulting Group and other organizations wil...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Progress Software (PRGS - Free Report) is a stock many investors are watching right now. PRGS is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value.

Investors should also recognize that PRGS has a P/B ratio of 4. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 6.40. Over the past 12 months, PRGS's P/B has been as high as 7.05 and as low as 3.95, with a median of 5.89.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. PRGS has a P/S ratio of 1.77. This compares to its industry's average P/S of 4.39.

Finally, investors will want to recognize that PRGS has a P/CF ratio of 9.86. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 16.31. Within the past 12 months, PRGS's P/CF has been as high as 18.02 and as low as 9.74, with a median of 14.83.

These are just a handful of the figures considered in Progress Software's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that PRGS is an impressive value stock right now.

Progress Software (PRGS - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Progress Software basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Progress Software, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Progress SoftwareFor the fiscal year ending November 2026, this business software maker is expected to earn $6.16 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Progress Software. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.7%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Progress Software to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

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Investors looking for stocks in the Computer - Software sector might want to consider either Progress Software (PRGS - Free Report) or Microsoft (MSFT - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Progress Software has a Zacks Rank of #2 (Buy), while Microsoft has a Zacks Rank of #3 (Hold) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that PRGS is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

PRGS currently has a forward P/E ratio of 6.80, while MSFT has a forward P/E of 25.19. We also note that PRGS has a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MSFT currently has a PEG ratio of 1.59.

Another notable valuation metric for PRGS is its P/B ratio of 3.39. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, MSFT has a P/B of 8.27.

These are just a few of the metrics contributing to PRGS's Value grade of A and MSFT's Value grade of D.

PRGS has seen stronger estimate revision activity and sports more attractive valuation metrics than MSFT, so it seems like value investors will conclude that PRGS is the superior option right now.

Progress Software: Making Progress Driven by the AI RevolutionProgress Software NASDAQ: PRGS said it has entered into an agreement to acquire Domo’s AI and data platform business in a transaction valued at a headline purchase price of $400 million, executives said on a conference call discussing the deal.

Anthony Folger, chief financial officer of Progress Software, said the company is acquiring “substantially all the assets” of Domo and assuming only certain liabilities. Progress has also agreed to pay up to $15 million of seller transaction expenses. Folger said the purchase price includes a minimum acquired cash balance of $25 million and an estimated $35 million in net present value of tax benefits, resulting in a net purchase price of about $355 million.

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Market Got It Wrong—Why Progress Software Deserves a Second LookBased on Domo’s fiscal 2026 results, Folger said the net purchase price represents a revenue multiple of “slightly more than one.” Progress plans to finance the acquisition with cash on hand and a portion of the current capacity on its revolving credit facility.

“Due to the strong deal economics, we don’t expect our pro forma net leverage ratio to be affected materially and believe it will remain under three times on a pro forma basis,” Folger said. He added that Progress intends to “deleverage quickly and aggressively” after the transaction closes.

Progress Software Stock Back in the Green After Beating ForecastsThe acquisition is subject to regulatory approvals and customary closing conditions. Folger said Progress expects the deal to close within its current fiscal year ending Nov. 30, 2026. He also said the company reiterated its third-quarter guidance “at or above the high end” of the range it provided last quarter.

Progress Points to AI and Data Platform Strategy Yogesh Gupta, chief executive officer of Progress Software, said the acquisition fits into the company’s AI product strategy by combining Domo’s cloud-native AI and data platform with Progress’ capabilities in structured and unstructured data management, data semantics and agentic retrieval-augmented generation, or RAG.

Gupta said enterprises need “context and control” to make AI effective, noting that organizational knowledge is often fragmented across systems of record, unstructured content and siloed applications.

“Ingesting, transforming, and aggregating this data is extremely difficult, and doing it at scale with security and governance is even harder,” Gupta said. “This is an area where Domo excels.”

Gupta described Domo’s platform as an intuitive, scalable and secure cloud-native AI and data platform that automates the ingestion and transformation of data from a wide range of sources. He said organizations can store data in Domo’s cloud platform or in partner cloud data warehouses such as Snowflake or Databricks.

According to Gupta, combining Domo’s offerings with the Progress Data Platform will help customers aggregate and interpret enterprise knowledge across both structured and unstructured data. He said the combined capabilities are intended to help AI agents use only the relevant subset of information needed for a task, rather than working across an overly broad data set.

“The end result is more accurate and more verifiable outcomes at dramatically lower costs,” Gupta said.

Domo Customer Base and Consumption Model Highlighted Gupta said more than 85% of Domo’s annual recurring revenue is now consumption-based, citing Domo’s previously announced results. He also said Domo has 2,400 customers and has pursued a partner strategy with cloud data warehouses.

During the question-and-answer portion of the call, Lawrence Vensko, an equity research associate at Guggenheim Securities, asked about what Progress is not taking on in the asset purchase. Folger said the assets left behind include Domo’s accumulated net operating losses and debt.

“Obviously, the debt is a significant liability, which is why we said we’re acquiring pretty much all the assets of the business and a good portion of their liabilities, excluding the debt,” Folger said.

Vensko also asked about retention rates. Gupta said Domo’s net retention and gross retention rates for its consumption-based business are “very similar to overall Progress,” and said data platform businesses tend to be sticky.

Executives Say Customer Overlap Is Limited Eric Martinuzzi, senior research analyst at Lake Street Capital Markets, asked about the prior business relationship between Progress and Domo and whether the companies had meaningful customer overlap. Gupta said there is some overlap, as is typical among enterprise software companies, but he did not characterize it as significant.

Martinuzzi also asked about potential cash proceeds for Domo shareholders. Gupta and Folger said that question was for Domo, noting that Progress is buying assets and certain liabilities, while decisions about the remaining business would be made by Domo.

Progress Declines to Detail Synergies Before Close Lucky Schreiner, vice president and research analyst at D.A. Davidson, asked about Domo’s recent growth outlook and margin profile, including potential cost synergies. Gupta declined to identify specific areas before the deal closes, but said Progress has a track record of acquiring companies that were barely break-even and bringing margins closer to Progress’ profile over time.

Schreiner also asked whether Progress plans to move the rest of Domo’s customer base to consumption pricing. Gupta said Domo has been moving customers from a seat-based licensing model to a consumption-based model for roughly two and a half to three years, but said Progress would provide more detail after the close.

Asked about confidence in driving growth given trends among business intelligence peers, Gupta said Progress sees opportunity in Domo’s consumption customer base and in combining the two companies’ products. He noted that Progress is not expecting rapid growth overall, saying the company has previously discussed expectations for approximately 2% ARR growth this year.

Gupta closed the call by saying Progress is “excited” about Domo’s AI and data platform business and expects to provide more information when the deal closes.

About Progress Software (NASDAQ:PRGS)Progress Software NASDAQ: PRGS is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company's offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress's portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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SILICON SLOPES, Utah--(BUSINESS WIRE)---- $DOMO--Domo, Inc. (NASDAQ: DOMO) (“Domo” or the “Company”) today announced that its Board of Directors has unanimously approved a definitive agreement under which Progress Software Corporation (NASDAQ: PRGS) (“Progress”) will acquire substantially all of the assets and employees, excluding the Company's net operating loss (“NOL”) carryforwards, and assume certain liabilities of the Company for $400 million in cash, subject to customary purchase price adjustments.

Progress Software (PRGS - Free Report) closed the last trading session at $39.5, gaining 42.8% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $50.67 indicates a 28.3% upside potential.

The mean estimate comprises six short-term price targets with a standard deviation of $16.29. While the lowest estimate of $40.00 indicates a 1.3% increase from the current price level, the most optimistic analyst expects the stock to surge 110.1% to reach $83.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.

However, an impressive consensus price target is not the only factor that indicates a potential upside in PRGS. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why PRGS Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 1.7%, as two estimates have moved higher compared to no negative revision.

Moreover, PRGS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much PRGS could gain, the direction of price movement it implies does appear to be a good guide.

State of Legal 2026 report shows how AI, automation and streamlined processes can reduce delays and strengthen client confidence

BURLINGTON, Mass., July 08, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the release of its State of Legal 2026 benchmarking report. Based on a nationwide survey of U.S.-based lawyers conducted by Regina Corso Consulting, the report reveals that while AI adoption is now widespread across the legal industry, many firms are still working to translate that momentum into fully efficient, modernized workflows. The full report is available here.

Despite rapid uptake of AI tools, many legal teams continue to rely on manual, fragmented processes. The report finds that 85% of lawyers are already using AI for tasks such as legal research, document summarization and intake support. However, 77% say much of their work remains manual and 73% report workflows that include too many steps, highlighting a significant opportunity to better integrate AI, automation and process design to meet the demands of a digital-first, client-driven environment.

“Legal teams aren’t slow to adopt AI: 85% are already using it. The issue is that most firms are layering AI on top of broken, manual processes instead of rethinking how work gets done,” said Loren Jarrett, EVP and GM of Digital Experience, Progress Software. “Our research makes it clear that meaningful gains don’t come from adding more tools—they come from eliminating friction. Firms that standardize workflows, automate intake and build governance into their technology stack will enable themselves to unlock the benefits of AI tools to move faster, scale smarter and deliver the kind of client experience modern legal work demands.”

Key Findings from the State of Legal 2026 Report

AI adoption is widespread, but governance is still evolving: Eighty-five percent of lawyers report using AI for tasks such as legal research, document summarization, case management and intake support. However, 36% cite a lack of governance or training as an ongoing challenge as adoption scales.Automation improves work life, but adoption remains limited: While 82% say automation has improved their work lives, only 24% report that a significant portion of their daily work is automated. Integration challenges, budget constraints and security concerns remain the top barriers to broader adoption.Client intake remains a critical opportunity for improvement: Nearly half (47%) say intake takes four days or longer, even though most believe it should take two to three days or less. Additionally, 94% say faster intake would improve outcomes, and 92% say automation would enable them to take on more business.Legal productivity is constrained by inefficient processes: While lawyers are satisfied with their work, 52% say they feel effective but not efficient due to manual tasks, unnecessary handoffs and fragmented systems.Tool sprawl and inconsistency slow teams down: Eighty-four percent say inconsistent processes across teams or systems reduce efficiency, and 95% want legal technology that is simple, intuitive and free of unnecessary features. "It really comes down to understanding AI and understanding how to leverage it and how to screen it,” said Whitney Harper, Co-Founder, ADVOS legal & ADVOS Pro. “But what I firmly believe is that AI is not here to take our jobs as lawyers. If we can figure out how to harness it, we can free ourselves up to deliver incredible value, do our best work and really enjoy the practice."

As firms look to close these operational gaps, technologies like Progress® ShareFile® are helping modernize how legal work gets done. By combining secure document management, AI-powered automation and streamlined client intake, these platforms enable legal teams to reduce friction, accelerate turnaround times and deliver more consistent, streamlined client experiences.

About the Survey
The State of Legal 2026 report is based on a nationwide survey of 304 U.S.-based lawyers working in both law firms and in-house legal departments. The research explores job satisfaction, operational efficiency, client intake, technology adoption, automation, AI usage and security challenges shaping the future of legal work.

About Progress Software
Progress Software (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and personalized digital experiences with agility and ease. Businesses of all sizes get a trusted provider in Progress, with the products, expertise and vision they need to turn AI disruption into a competitive advantage. Millions of developers and technologists at hundreds of thousands of organizations depend on Progress every day. Learn more at www.progress.com.

Progress and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See Trademarks for appropriate markings. All rights in any other trademarks contained herein are reserved by their respective owners and their inclusion does not imply an endorsement, affiliation or sponsorship as between Progress and the respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Progress Software (PRGS - Free Report) . PRGS is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 7.46, which compares to its industry's average of 18.95. Over the last 12 months, PRGS's Forward P/E has been as high as 14.46 and as low as 7.37, with a median of 10.95.

Investors should also recognize that PRGS has a P/B ratio of 4. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.48. Within the past 52 weeks, PRGS's P/B has been as high as 7.05 and as low as 3.95, with a median of 5.89.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. PRGS has a P/S ratio of 1.6. This compares to its industry's average P/S of 3.41.

Finally, our model also underscores that PRGS has a P/CF ratio of 9.86. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. PRGS's P/CF compares to its industry's average P/CF of 13.71. PRGS's P/CF has been as high as 18.02 and as low as 9.74, with a median of 14.83, all within the past year.

Value investors will likely look at more than just these metrics, but the above data helps show that Progress Software is likely undervalued currently. And when considering the strength of its earnings outlook, PRGS sticks out as one of the market's strongest value stocks.

U.S. stocks were lower, with the Nasdaq Composite falling around 200 points on Wednesday.

Shares of Progress Software Corp (NASDAQ:PRGS) rose sharply after the company posted better-than-expected second-quarter results.

Progress Software reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.49 per share. The company reported quarterly sales of $253.465 million which beat the analyst consensus estimate of $242.741 million.

Progress Software shares jumped 11.7% to $37.52 on Wednesday.

Here are some other big stocks recording gains in today’s session.

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Key Takeaways PRGS beat Q2 revenues, EPS and cash flow expectations and raised its fiscal 2026 outlook.Management tied AI demand to data, workflow automation and infrastructure management products.PRGS said deal timing helped Q2 results, while ARR remains a cleaner view of momentum. Progress Software Corporation (PRGS - Free Report) used its second-quarter call to press a consistent message: its mix of data, workflow and infrastructure products becomes more relevant as enterprises move AI projects into production. Management framed that shift as a source of resilience rather than disruption.

The setup mattered because Progress also raised its full-year outlook after another quarter of top-line outperformance, while analysts use the Q&A to test how much of the upside is timing-driven and how much reflects a firmer demand backdrop.

Progress Ties AI to Core PlatformsChief executive officer Yogesh Gupta said the company’s data platform, workflow automation and infrastructure management products sit in the foundational layers enterprises need to make AI useful, governed and cost-effective. He emphasized that context and control are becoming more important as customers seek reliable outcomes from AI deployments.

Gupta pointed to especially strong performance in data platform products, saying customers are increasingly using business data to provide context for AI. He also highlighted demand across infrastructure management and content-driven workflow automation as evidence that the portfolio is benefiting broadly, not through a single product cycle.

He added a fresh product proof point by citing the launch of Chef Enterprise Management for NVIDIA’s DGX Spark systems. Management presented that partnership as a way to extend Progress’s infrastructure management role into AI deployments at the edge and in secure enterprise environments.

PRGS Posts a Broad-Based BeatChief financial officer Anthony Folger said second-quarter results exceeded expectations across revenues, earnings and cash flow. Reported non-GAAP EPS of $1.62 and revenues of $253 million beat the Zacks Consensus Estimate of $1.49 and $242 million, respectively. The results reflected an EPS surprise of 8.72% and a revenue surprise of 4.87%, according to the provided Zacks data.

Progress Software Corporation Price, Consensus and EPS SurpriseOperationally, ARR reached $868 million, up 2% year over year in constant currency, while net retention rate improved to 100% from 99% in the prior quarter. Management said that the growth was broad-based across OpenEdge, LoadMaster, WhatsUp Gold, MOVEit, DevTools and ShareFile.

The quarter’s top-line strength was led by DataDirect, Chef, MarkLogic and LoadMaster. Folger also noted that operating income totaled $103 million on a non-GAAP basis, producing a 40% operating margin, as incremental margins remained strong despite higher variable costs tied to stronger revenues.

Progress Lifts Full-Year TargetsManagement raised its fiscal 2026 outlook after what it called an exceptionally strong first half. Progress now expects full-year revenues of $990 million to just over $1 billion and non-GAAP EPS of $6.09 to $6.21, up from the prior range of $5.91-$6.03.
Folger said the company also lifted adjusted free cash flow guidance to $271 million to $283 million and unlevered free cash flow guidance to $323 million to $334 million. For the third quarter, Progress forecasts revenues of $244 million to $250 million and non-GAAP EPS of $1.53 to $1.59.

The tone around guidance was upbeat but measured. Folger reminded investors that first-half revenues benefited in part from deal timing, and he said ARR remains the cleaner read on underlying top-line momentum, which management still described as running around the 2% level.

PRGS Improves Flexibility on the Balance SheetCash generation was another focus. Adjusted free cash flow rose to $79.2 million in the quarter from $37.1 million a year earlier, while first-half adjusted free cash flow reached $178.1 million. Management tied that improvement to stronger collections and better operating performance.

Progress ended the quarter with $103 million in cash and $1.3 billion of total debt. Net leverage improved to 2.9x from 3.4x at the start of the fiscal year, and the company paid down another $50 million of debt in the quarter after addressing its 2026 convertible maturity in April.

Capital allocation remains centered on deleveraging first, with buybacks as a secondary lever when valuation is attractive. Folger said the company now expects roughly $220 million of net debt repayment and about $75 million of repurchases this year.
Progress Faces Timing Questions in Q&A

A Guggenheim analyst asked whether weaker-than-expected third-quarter revenue guidance signaled softer SaaS momentum. Folger rejected that view, arguing that some deals expected in the third quarter close in the second quarter instead, with more than half of the second-quarter beat tied to timing.

That same exchange also gave management a chance to address ShareFile normalization. Folger said that prior cleanup work had distorted SaaS trends, but the latest quarter looked cleaner and stronger, with less residual noise from post-acquisition adjustments.

An Oppenheimer analyst pressed Gupta on how much of the portfolio is aligned with AI use cases. Gupta said that the data-plus-content business accounts for more than two-thirds of total revenues and argued that growth there is being driven primarily by capacity and consumption rather than pricing.

PRGS Keeps M&A Discipline in ViewM&A also resurfaced as a strategic theme. Gupta said that seller expectations are beginning to move closer to market reality, a change he described as visible across multiple conversations with potential targets.

He reiterated that Progress remains comfortable pursuing acquisitions on the scale of ShareFile, adding that future AI relevance remains a core screen in target selection. Gupta also indicated that management currently expects any deal to fit within existing revolver capacity.

Taken together, the call left a picture of a company leaning into AI adjacency while still emphasizing discipline. The message was less about a near-term acceleration story than about reinforcing durability, balance-sheet repair and selective expansion.

Zacks Signals Remain Mixed but ConstructivePRGS carries a Zacks Rank #3 (Hold), alongside a Value Score of A, Growth Score of B, Momentum Score of D and VGM Score of A. In Zacks’ framework, the Rank is the first screen, while stronger Style Scores indicate more attractive value, growth, momentum or blended characteristics over the near term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That combination points to a stock with favorable value and overall style characteristics, but with a more neutral earnings revision profile and weaker momentum signal at present. Zacks also notes that Rank can change as estimate revisions move after a quarterly report, so the current setup should be viewed as a snapshot rather than a fixed read on future performance.

Progress Software Corporation (PRGS) Q2 2026 Earnings Call Transcript

BURLINGTON, Mass., June 30, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), a member of the Russell 2000 Index and a trusted provider of AI-powered digital experience and infrastructure software, today announced its financial results for the fiscal second quarter ended May 31, 2026.

The company’s earnings release and a supplemental slide presentation can be accessed via the Investor Events & Presentations link on the Progress Investor Relations webpage. Progress will host a conference call today at 5:00 p.m. Eastern Time to discuss its results and outlook.

Conference Call Details

A live webcast of the call will be available at this link.To access the conference call by phone, use this link to retrieve dial-in details. Participants are encouraged to dial in 15 minutes before the scheduled start time.A replay of the conference call and supporting materials will be available on the Progress Investor Relations webpage following the live event.
About Progress Software
Progress Software (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and personalized digital experiences with agility and ease. Businesses of all sizes get a trusted provider in Progress, with the products, expertise and vision they need to turn AI disruption into a competitive advantage. Millions of developers and technologists at hundreds of thousands of organizations depend on Progress every day. Learn more at www.progress.com.

Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.  

Investor Contact: Press Contact:Michael Micciche Jeff YoungProgress Software Progress Software+1 781-850-8450 +1 [email protected] [email protected]    Source: Progress Software Corporation

Progress Software (PRGS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.