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Progress Software (PRGS) Stock Forecast, Price Target & Predictions

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PRGS Stock Forecast

Progress Software stock forecast is as follows: an average price target of $70.20 (represents a 4.60% upside from PRGS’s last price of $67.11) and a rating consensus of 'Buy', based on 7 wall street analysts offering a 1-year stock forecast.

PRGS Price Target

The average price target for Progress Software (PRGS) is $70.20 based on 1-year price targets from 7 Wall Street analysts in the past 3 months, with a price target range of $80.00 to $55.00. This represents a potential 4.60% upside from PRGS's last price of $67.11.

PRGS Analyst Ratings

Buy

According to 7 Wall Street analysts, Progress Software's rating consensus is 'Buy'. The analyst rating breakdown for PRGS stock is 0 'Strong Buy' (0.00%), 4 'Buy' (57.14%), 3 'Hold' (42.86%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Progress Software Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Oct 22, 2024Ittai KidronOppenheimer$80.00$65.3822.36%19.21%
Oct 01, 2024John DiFucciGuggenheim$78.00$67.0116.40%16.23%
Sep 25, 2024Lucky SchreinerD.A. Davidson$70.00$64.248.97%4.31%
Sep 25, 2024Ittai KidronOppenheimer$70.00$57.1522.48%4.31%
Sep 23, 2024Daniel IvesWedbush$68.00$56.9519.40%1.33%
Jun 26, 2024Brent ThillJefferies$55.00$48.7012.94%-18.05%
Mar 27, 2024Lucky SchreinerD.A. Davidson$65.00$52.6323.50%-3.14%
Mar 25, 2024Ittai KidronOppenheimer$66.00$52.4825.76%-1.65%
Mar 29, 2023Raymond McDonoughGuggenheim$64.00$55.4715.38%-4.63%
Sep 09, 2022Brent ThillJefferies$52.00$46.6711.42%-22.52%
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The latest Progress Software stock forecast, released on Oct 22, 2024 by Ittai Kidron from Oppenheimer, set a price target of $80.00, which represents a 22.36% increase from the stock price at the time of the forecast ($65.38), and a 19.21% increase from PRGS last price ($67.11).

Progress Software Price Target by Period

1M3M12M
# Anlaysts158
Avg Price Target$80.00$73.20$69.00
Last Closing Price$67.11$67.11$67.11
Upside/Downside19.21%9.07%2.82%

In the current month, the average price target of Progress Software stock is $80.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 19.21% increase as opposed to Progress Software's last price of $67.11. This month's average price target is up 9.29% compared to last quarter, and up 15.94% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Oct 22, 2024WedbushBuyBuyHold
Oct 22, 2024OppenheimerOutperformOutperformHold
Sep 23, 2024OppenheimerOutperformOutperformHold
Sep 23, 2024JefferiesHoldHoldHold
Sep 23, 2024WedbushOutperformOutperformHold
Sep 23, 2024GuggenheimBuyBuyHold
Sep 10, 2024WedbushBuyBuyHold
Jul 18, 2024WedbushBuyBuyHold
Jul 18, 2024WedbushOutperformOutperformHold
Jun 26, 2024OppenheimerBuyBuyHold
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Progress Software's last stock rating was published by Wedbush on Oct 22, 2024. The company gave PRGS a "Buy" rating, the same as its previous rate.

Progress Software Financial Forecast

Progress Software Revenue Forecast

Dec 25Aug 25May 25Mar 25Dec 24Aug 24May 24Mar 24Dec 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19May 19Mar 19Mar 18Mar 17
Revenue---------$174.99M$178.25M--$151.22M$148.75M--$147.42M$122.49M--$109.70M$100.38M--$106.72M$100.00M---
Avg Forecast$243.92M$225.53M$219.76M$227.49M$211.42M$176.16M$168.42M$181.91M$174.12M$173.27M$169.78M$158.38M$162.14M$148.10M$146.45M$138.94M$135.43M$130.93M$121.99M$121.39M$128.01M$110.10M$99.17M$112.06M$118.30M$110.83M$98.20M$87.64M$83.03M$69.59M
High Forecast$259.18M$239.64M$233.51M$244.54M$212.22M$176.26M$168.42M$181.91M$174.95M$184.11M$180.40M$168.29M$172.29M$156.43M$154.69M$146.75M$143.05M$138.29M$128.85M$128.22M$135.22M$116.29M$104.74M$118.37M$124.96M$117.07M$103.72M$92.57M$99.64M$83.51M
Low Forecast$216.58M$200.26M$195.13M$197.43M$209.78M$176.05M$168.42M$181.91M$173.04M$153.85M$150.75M$140.63M$143.97M$134.09M$132.60M$125.80M$122.63M$118.54M$110.45M$109.91M$115.91M$99.69M$89.79M$101.47M$107.12M$100.35M$88.91M$79.35M$66.43M$55.67M
# Analysts1115522242221111222246453533818
Surprise %---------1.01%1.05%--1.02%1.02%--1.13%1.00%--1.00%1.01%--0.96%1.02%---

Progress Software's average Quarter revenue forecast for Dec 23 based on 4 analysts is $174.12M, with a low forecast of $173.04M, and a high forecast of $174.95M. PRGS's average Quarter revenue forecast represents a -0.50% decrease compared to the company's last Quarter revenue of $174.99M (Aug 23).

Progress Software EBITDA Forecast

Dec 25Aug 25May 25Mar 25Dec 24Aug 24May 24Mar 24Dec 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19May 19Mar 19Mar 18Mar 17
# Analysts1115522242221111222246453533818
EBITDA---------$62.25M$62.39M--$51.84M$43.83M--$59.14M$34.81M--$40.01M$32.63M--$32.38M$27.49M---
Avg Forecast$76.42M$70.66M$68.85M$71.28M$66.24M$55.19M$52.77M$50.24M$54.55M$54.29M$53.20M$45.67M$29.53M$53.21M$52.61M$41.52M$48.66M$47.04M$43.83M$28.70M$45.99M$39.55M$35.63M$34.54M$42.50M$39.82M$35.28M$23.67M$24.38M$7.14M
High Forecast$81.21M$75.09M$73.16M$76.62M$66.49M$55.23M$52.77M$60.29M$54.81M$57.68M$56.52M$54.81M$35.43M$56.20M$55.58M$49.83M$51.39M$49.68M$46.29M$34.44M$48.58M$41.78M$37.63M$41.45M$44.89M$42.06M$37.26M$28.40M$29.26M$8.57M
Low Forecast$67.86M$62.74M$61.14M$61.86M$65.73M$55.16M$52.77M$40.19M$54.22M$48.20M$47.23M$36.54M$23.62M$48.18M$47.64M$33.22M$44.06M$42.59M$39.68M$22.96M$41.64M$35.81M$32.26M$27.63M$38.48M$36.05M$31.94M$18.93M$19.51M$5.71M
Surprise %---------1.15%1.17%--0.97%0.83%--1.26%0.79%--1.01%0.92%--0.81%0.78%---

4 analysts predict PRGS's average Quarter EBITDA for Dec 23 to be $54.55M, with a high of $54.81M and a low of $54.22M. This is -12.36% lower than Progress Software's previous annual EBITDA (Aug 23) of $62.25M.

Progress Software Net Income Forecast

Dec 25Aug 25May 25Mar 25Dec 24Aug 24May 24Mar 24Dec 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19May 19Mar 19Mar 18Mar 17
# Analysts1115522242221111222246453533818
Net Income---------$19.10M$12.09M--$21.80M$29.11M--$30.98M$13.56M--$23.98M$16.97M--$13.56M$8.18M---
Avg Forecast$66.18M$60.78M$56.81M$60.89M$53.17M$49.64M$41.68M$21.26M$39.69M$43.79M$39.40M$19.32M$12.42M$42.44M$41.56M$17.57M$32.34M$35.94M$31.69M$13.90M$34.09M$33.66M$27.83M$19.31M$32.78M$29.87M$24.81M$8.80M$10.99M$-363.46K
High Forecast$71.56M$65.72M$61.43M$68.08M$54.49M$49.65M$41.69M$25.51M$40.56M$47.35M$42.61M$23.19M$14.91M$45.54M$44.60M$21.08M$34.71M$38.56M$34.01M$16.69M$36.59M$36.12M$29.87M$23.17M$35.18M$32.05M$26.62M$10.56M$13.19M$-290.77K
Low Forecast$56.54M$51.92M$48.53M$53.70M$52.29M$49.63M$41.67M$17.00M$38.38M$37.41M$33.66M$15.46M$9.94M$37.22M$36.45M$14.05M$28.36M$31.52M$27.79M$11.12M$29.90M$29.52M$24.41M$15.44M$28.75M$26.20M$21.76M$7.04M$8.79M$-436.15K
Surprise %---------0.44%0.31%--0.51%0.70%--0.86%0.43%--0.71%0.61%--0.45%0.33%---

Progress Software's average Quarter net income forecast for Dec 23 is $39.69M, with a range of $38.38M to $40.56M. PRGS's average Quarter net income forecast represents a 107.82% increase compared to the company's last Quarter net income of $19.10M (Aug 23).

Progress Software SG&A Forecast

Dec 25Aug 25May 25Mar 25Dec 24Aug 24May 24Mar 24Dec 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19May 19Mar 19Mar 18Mar 17
# Analysts1115522242221111222246453533818
SG&A---------$59.40M$61.62M--$54.74M$51.91M--$46.19M$45.72M--$35.70M$34.16M--$38.68M$37.49M---
Avg Forecast$87.37M$80.78M$78.71M$81.48M$75.73M$63.10M$60.33M$52.44M$62.37M$62.06M$60.81M$47.67M$46.80M$53.05M$52.46M$43.34M$48.51M$46.90M$43.69M$31.45M$45.85M$39.44M$35.52M$33.78M$42.37M$39.70M$35.17M$32.40M$28.89M$25.12M
High Forecast$92.83M$85.84M$83.64M$87.59M$76.01M$63.14M$60.33M$62.92M$62.66M$65.94M$64.62M$57.20M$56.15M$56.03M$55.41M$52.00M$51.24M$49.53M$46.15M$37.75M$48.43M$41.65M$37.52M$40.54M$44.76M$41.93M$37.15M$38.88M$34.67M$30.15M
Low Forecast$77.58M$71.73M$69.89M$70.72M$75.14M$63.06M$60.33M$41.95M$61.98M$55.11M$54.00M$38.14M$37.44M$48.03M$47.50M$34.67M$43.92M$42.46M$39.56M$25.16M$41.52M$35.71M$32.16M$27.02M$38.37M$35.94M$31.85M$25.92M$23.11M$20.10M
Surprise %---------0.96%1.01%--1.03%0.99%--0.98%1.05%--0.91%0.96%--0.97%1.07%---

Progress Software's average Quarter SG&A projection for Dec 23 is $62.37M, based on 4 Wall Street analysts, with a range of $61.98M to $62.66M. The forecast indicates a 4.99% rise compared to PRGS last annual SG&A of $59.40M (Aug 23).

Progress Software EPS Forecast

Dec 25Aug 25May 25Mar 25Dec 24Aug 24May 24Mar 24Dec 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19May 19Mar 19Mar 18Mar 17
# Analysts1115522242221111222246453533818
EPS---------$0.44$0.28--$0.50$0.67--$0.71$0.31--$0.53$0.38--$0.30$0.18---
Avg Forecast$1.51$1.39$1.30$1.39$1.22$1.14$0.95$1.14$0.91$1.00$0.90$1.05$1.09$0.97$0.95$0.85$0.74$0.82$0.72$0.75$0.78$0.77$0.64$0.69$0.75$0.68$0.57$0.47$0.40$0.18
High Forecast$1.64$1.50$1.41$1.56$1.25$1.14$0.95$1.14$0.93$1.08$0.97$1.14$1.18$1.04$1.02$0.91$0.79$0.88$0.78$0.80$0.84$0.83$0.68$0.75$0.80$0.73$0.61$0.50$0.48$0.22
Low Forecast$1.29$1.19$1.11$1.23$1.20$1.14$0.95$1.14$0.88$0.86$0.77$0.90$0.93$0.85$0.83$0.74$0.65$0.72$0.64$0.65$0.68$0.68$0.56$0.61$0.66$0.60$0.50$0.41$0.32$0.14
Surprise %---------0.44%0.31%--0.52%0.70%--0.86%0.43%--0.69%0.60%--0.44%0.32%---

According to 4 Wall Street analysts, Progress Software's projected average Quarter EPS for Dec 23 is $0.91, with a low estimate of $0.88 and a high estimate of $0.93. This represents a 106.36% increase compared to PRGS previous annual EPS of $0.44 (Aug 23).

Progress Software Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
ONTFON24$6.25$18.00188.00%-
PROPROS$22.52$32.6745.07%Buy
PDFSPDF Solutions$30.21$43.5043.99%-
SPNSSapiens$27.12$38.0040.12%Buy
PYCRPaycor HCM$16.40$22.0034.15%Hold
ENVEnvestnet$63.09$67.867.56%Hold
PRGSProgress Software$67.11$70.204.60%Buy
MLNKMeridianLink$22.06$22.753.13%Buy
AGYSAgilysys$125.78$116.20-7.62%Buy

PRGS Forecast FAQ

Is Progress Software a good buy?

Yes, according to 7 Wall Street analysts, Progress Software (PRGS) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 4 'Buy' recommendations, accounting for 57.14% of PRGS's total ratings.

What is PRGS's price target?

Progress Software (PRGS) average price target is $70.2 with a range of $55 to $80, implying a 4.60% from its last price of $67.11. The data is based on 7 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Progress Software stock go up soon?

According to Wall Street analysts' prediction for PRGS stock, the company can go up by 4.60% (from the last price of $67.11 to the average price target of $70.2), up by 19.21% based on the highest stock price target, and down by -18.05% based on the lowest stock price target.

Can Progress Software stock reach $100?

PRGS's average twelve months analyst stock price target of $70.2 does not support the claim that Progress Software can reach $100 in the near future.

What is Progress Software's current price target trend?

1 Wall Street analyst forecast a $80 price target for Progress Software (PRGS) this month, up 19.21% from its last price of $67.11. Compared to the last 3 and 12 months, the average price target increased by 9.07% and increased by 2.82%, respectively.

Did the PRGS's actual financial results beat the analysts' financial forecasts?

In terms of the last quarterly report (Aug 2023), Progress Software's revenue was $174.99M, beating the average analysts' forecast of $173.27M by 1.00%. The company's EBITDA was $62.25M, beating the average prediction of $54.29M by 14.66%. Progress Software's net income was $19.1M, missing the average estimation of $43.79M by -56.39%. The company's SG&A was $59.4M, missing the average forecast of $62.06M by -4.28%. Lastly, the company's EPS was $0.44, missing the average prediction of $1 by -56.08%