Progress Software (PRGS) Stock Forecast, Price Target & Predictions
PRGS Stock Forecast
Progress Software stock forecast is as follows: an average price target of $70.20 (represents a 9.79% upside from PRGS’s last price of $63.94) 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 9.79% upside from PRGS's last price of $63.94.
PRGS Analyst Ratings
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
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Oct 22, 2024 | Ittai Kidron | Oppenheimer | $80.00 | $65.38 | 22.36% | 25.12% |
| Oct 01, 2024 | John DiFucci | Guggenheim | $78.00 | $67.01 | 16.40% | 21.99% |
| Sep 25, 2024 | Lucky Schreiner | D.A. Davidson | $70.00 | $64.24 | 8.97% | 9.48% |
| Sep 25, 2024 | Ittai Kidron | Oppenheimer | $70.00 | $57.15 | 22.48% | 9.48% |
| Sep 23, 2024 | Daniel Ives | Wedbush | $68.00 | $56.95 | 19.40% | 6.35% |
| Jun 26, 2024 | Brent Thill | Jefferies | $55.00 | $48.70 | 12.94% | -13.98% |
| Mar 27, 2024 | Lucky Schreiner | D.A. Davidson | $65.00 | $52.63 | 23.50% | 1.66% |
| Mar 25, 2024 | Ittai Kidron | Oppenheimer | $66.00 | $52.48 | 25.76% | 3.22% |
| Mar 29, 2023 | Raymond McDonough | Guggenheim | $64.00 | $55.47 | 15.38% | 0.09% |
| Sep 09, 2022 | Brent Thill | Jefferies | $52.00 | $46.67 | 11.42% | -18.67% |
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 25.12% increase from PRGS last price ($63.94).
Progress Software Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 1 | 5 | 8 |
| Avg Price Target | $80.00 | $73.20 | $69.00 |
| Last Closing Price | $63.94 | $63.94 | $63.94 |
| Upside/Downside | 25.12% | 14.48% | 7.91% |
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 25.12% increase as opposed to Progress Software's last price of $63.94. 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
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 22, 2024 | Wedbush | Buy | Buy | Hold |
| Oct 22, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Sep 23, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Sep 23, 2024 | Jefferies | Hold | Hold | Hold |
| Sep 23, 2024 | Wedbush | Outperform | Outperform | Hold |
| Sep 23, 2024 | Guggenheim | Buy | Buy | Hold |
| Sep 10, 2024 | Wedbush | Buy | Buy | Hold |
| Jul 18, 2024 | Wedbush | Buy | Buy | Hold |
| Jul 18, 2024 | Wedbush | Outperform | Outperform | Hold |
| Jun 26, 2024 | Oppenheimer | Buy | Buy | Hold |
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 25 | Aug 25 | May 25 | Mar 25 | Dec 24 | Aug 24 | May 24 | Mar 24 | Dec 23 | Aug 23 | May 23 | Mar 23 | Dec 22 | Aug 22 | May 22 | Mar 22 | Dec 21 | Aug 21 | May 21 | Mar 21 | Dec 20 | Aug 20 | May 20 | Mar 20 | Dec 19 | Aug 19 | May 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $174.99M | $178.25M | - | - | $151.22M | $148.75M | - | - | $147.42M | $122.49M | - | - | $109.70M | $100.38M | - | - | $106.72M | $100.00M | - | - | - |
| Avg Forecast | $243.82M | $225.29M | $219.67M | $227.38M | $211.70M | $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 | $261.84M | $241.94M | $235.90M | $243.69M | $211.95M | $176.26M | $168.42M | $181.91M | $174.95M | $186.07M | $182.33M | $170.08M | $174.12M | $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 | $213.45M | $197.22M | $192.30M | $196.74M | $211.54M | $176.05M | $168.42M | $181.91M | $173.04M | $151.68M | $148.63M | $138.65M | $141.94M | $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 |
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 3 | 8 | 18 |
| 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 25 | Aug 25 | May 25 | Mar 25 | Dec 24 | Aug 24 | May 24 | Mar 24 | Dec 23 | Aug 23 | May 23 | Mar 23 | Dec 22 | Aug 22 | May 22 | Mar 22 | Dec 21 | Aug 21 | May 21 | Mar 21 | Dec 20 | Aug 20 | May 20 | Mar 20 | Dec 19 | Aug 19 | May 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 3 | 8 | 18 |
| EBITDA | - | - | - | - | - | - | - | - | - | $62.25M | $62.39M | - | - | $51.84M | $43.83M | - | - | $59.14M | $34.81M | - | - | $40.01M | $32.63M | - | - | $32.38M | $27.49M | - | - | - |
| Avg Forecast | $87.60M | $80.94M | $78.92M | $81.69M | $76.06M | $63.29M | $60.51M | $50.24M | $62.55M | $62.25M | $61.00M | $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 | $94.07M | $86.92M | $84.75M | $87.55M | $76.15M | $63.33M | $60.51M | $60.29M | $62.85M | $66.85M | $65.50M | $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 | $76.68M | $70.86M | $69.09M | $70.68M | $76.00M | $63.25M | $60.51M | $40.19M | $62.17M | $54.49M | $53.40M | $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 % | - | - | - | - | - | - | - | - | - | 1.00% | 1.02% | - | - | 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 $62.55M, with a high of $62.85M and a low of $62.17M. This is 0.49% upper than Progress Software's previous annual EBITDA (Aug 23) of $62.25M.
Progress Software Net Income Forecast
| Dec 25 | Aug 25 | May 25 | Mar 25 | Dec 24 | Aug 24 | May 24 | Mar 24 | Dec 23 | Aug 23 | May 23 | Mar 23 | Dec 22 | Aug 22 | May 22 | Mar 22 | Dec 21 | Aug 21 | May 21 | Mar 21 | Dec 20 | Aug 20 | May 20 | Mar 20 | Dec 19 | Aug 19 | May 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 3 | 8 | 18 |
| Net Income | - | - | - | - | - | - | - | - | - | $19.10M | $12.09M | - | - | $21.80M | $29.11M | - | - | $30.98M | $13.56M | - | - | $23.98M | $16.97M | - | - | $13.56M | $8.18M | - | - | - |
| Avg Forecast | $65.68M | $60.17M | $56.20M | $60.22M | $53.00M | $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 | $71.98M | $65.95M | $61.60M | $67.80M | $56.45M | $49.65M | $41.69M | $25.51M | $40.56M | $48.00M | $43.19M | $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 | $55.04M | $50.43M | $47.10M | $53.48M | $51.28M | $49.63M | $41.67M | $17.00M | $38.38M | $36.70M | $33.02M | $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 25 | Aug 25 | May 25 | Mar 25 | Dec 24 | Aug 24 | May 24 | Mar 24 | Dec 23 | Aug 23 | May 23 | Mar 23 | Dec 22 | Aug 22 | May 22 | Mar 22 | Dec 21 | Aug 21 | May 21 | Mar 21 | Dec 20 | Aug 20 | May 20 | Mar 20 | Dec 19 | Aug 19 | May 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 3 | 8 | 18 |
| SG&A | - | - | - | - | - | - | - | - | - | $59.40M | $61.62M | - | - | $54.74M | $51.91M | - | - | $46.19M | $45.72M | - | - | $35.70M | $34.16M | - | - | $38.68M | $37.49M | - | - | - |
| Avg Forecast | $87.33M | $80.70M | $78.68M | $81.45M | $75.83M | $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 | $93.79M | $86.66M | $84.50M | $87.29M | $75.92M | $63.14M | $60.33M | $62.92M | $62.66M | $66.65M | $65.31M | $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 | $76.45M | $70.64M | $68.88M | $70.47M | $75.77M | $63.06M | $60.33M | $41.95M | $61.98M | $54.33M | $53.24M | $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 25 | Aug 25 | May 25 | Mar 25 | Dec 24 | Aug 24 | May 24 | Mar 24 | Dec 23 | Aug 23 | May 23 | Mar 23 | Dec 22 | Aug 22 | May 22 | Mar 22 | Dec 21 | Aug 21 | May 21 | Mar 21 | Dec 20 | Aug 20 | May 20 | Mar 20 | Dec 19 | Aug 19 | May 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 4 | 6 | 4 | 5 | 3 | 5 | 3 | 3 | 8 | 18 |
| EPS | - | - | - | - | - | - | - | - | - | $0.44 | $0.28 | - | - | $0.50 | $0.67 | - | - | $0.71 | $0.31 | - | - | $0.53 | $0.38 | - | - | $0.30 | $0.18 | - | - | - |
| Avg Forecast | $1.50 | $1.38 | $1.29 | $1.38 | $1.21 | $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 | $1.65 | $1.51 | $1.41 | $1.55 | $1.29 | $1.14 | $0.95 | $1.14 | $0.93 | $1.10 | $0.99 | $1.15 | $1.19 | $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 | $1.26 | $1.15 | $1.08 | $1.22 | $1.17 | $1.14 | $0.95 | $1.14 | $0.88 | $0.84 | $0.76 | $0.88 | $0.91 | $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
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| ONTF | ON24 | $5.94 | $18.00 | 203.03% | - |
| PRO | PROS | $20.73 | $32.67 | 57.60% | Buy |
| PDFS | PDF Solutions | $28.69 | $43.50 | 51.62% | - |
| PYCR | Paycor HCM | $15.71 | $22.00 | 40.04% | Hold |
| AGYS | Agilysys | $102.95 | $116.20 | 12.87% | Buy |
| PRGS | Progress Software | $63.94 | $70.20 | 9.79% | Buy |
| ENV | Envestnet | $62.79 | $67.86 | 8.07% | Hold |
| SPNS | Sapiens | $37.25 | $38.00 | 2.01% | Buy |
| MLNK | MeridianLink | $23.09 | $20.00 | -13.38% | 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 9.79% from its last price of $63.94. 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 9.79% (from the last price of $63.94 to the average price target of $70.2), up by 25.12% based on the highest stock price target, and down by -13.98% 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 25.12% from its last price of $63.94. Compared to the last 3 and 12 months, the average price target increased by 14.48% and increased by 7.91%, 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 $62.25M by 0.00%. 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%