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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 $73.20 (represents a 30.02% upside from PRGS’s last price of $56.30) 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 $73.20 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 $68.00. This represents a potential 30.02% upside from PRGS's last price of $56.30.

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
Jan 06, 2025Brent ThillJefferies$70.00$65.187.39%24.33%
Oct 22, 2024Ittai KidronOppenheimer$80.00$65.3822.36%42.10%
Oct 01, 2024John DiFucciGuggenheim$78.00$67.0116.40%38.54%
Sep 25, 2024Lucky SchreinerD.A. Davidson$70.00$64.248.97%24.33%
Sep 25, 2024Ittai KidronOppenheimer$70.00$57.1522.48%24.33%
Sep 23, 2024Daniel IvesWedbush$68.00$56.9519.40%20.78%
Jun 26, 2024Brent ThillJefferies$55.00$48.7012.94%-2.31%
Mar 27, 2024Lucky SchreinerD.A. Davidson$65.00$52.6323.50%15.45%
Mar 25, 2024Ittai KidronOppenheimer$66.00$52.4825.76%17.23%
Mar 29, 2023Raymond McDonoughGuggenheim$64.00$55.4715.38%13.68%
Sep 09, 2022Brent ThillJefferies$52.00$46.6711.42%-7.64%

The latest Progress Software stock forecast, released on Jan 06, 2025 by Brent Thill from Jefferies, set a price target of $70.00, which represents a 7.39% increase from the stock price at the time of the forecast ($65.18), and a 24.33% increase from PRGS last price ($56.30).

Progress Software Price Target by Period

1M3M12M
# Anlaysts119
Avg Price Target$70.00$70.00$69.11
Last Closing Price$56.30$56.30$56.30
Upside/Downside24.33%24.33%22.75%

In the current month, the average price target of Progress Software stock is $70.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 24.33% increase as opposed to Progress Software's last price of $56.30. This month's average price target is down 0.00% compared to last quarter, and up 1.29% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Jan 06, 2025JefferiesHoldHoldHold
Oct 22, 2024WedbushBuyBuyHold
Oct 22, 2024OppenheimerOutperformOutperformHold
Sep 23, 2024GuggenheimBuyBuyHold
Sep 23, 2024WedbushOutperformOutperformHold
Sep 23, 2024OppenheimerOutperformOutperformHold
Sep 23, 2024JefferiesHoldHoldHold
Sep 10, 2024WedbushBuyBuyHold
Jul 18, 2024WedbushBuyBuyHold
Jul 18, 2024WedbushOutperformOutperformHold
Jun 26, 2024OppenheimerBuyBuyHold
Jun 26, 2024JefferiesHoldHoldHold
Jun 24, 2024CitigroupNeutralNeutralHold
Jun 24, 2024OppenheimerOutperformOutperformHold
Jun 24, 2024BarclaysEqual-WeightDowngrade
Mar 28, 2024WedbushBuyBuyHold
Mar 25, 2024WedbushOutperformOutperformHold
Mar 25, 2024OppenheimerOutperformOutperformHold
Mar 25, 2024CitigroupNeutralNeutralHold
Mar 25, 2024GuggenheimBuyBuyHold
Mar 29, 2023OppenheimerOverweightOverweightHold
Apr 25, 2022Zacks Investment ResearchBuyUpgrade

Progress Software's last stock rating was published by Jefferies on Jan 06, 2025. The company gave PRGS a "Hold" rating, the same as its previous rate.

Progress Software Financial Forecast

Progress Software Revenue Forecast

Nov 26Aug 26May 26Mar 26Nov 25Aug 25May 25Mar 25Nov 24Aug 24May 24Mar 24Nov 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19
Revenue------------$176.97M$174.99M$178.25M--$151.22M$148.75M--$147.42M$122.49M--$109.70M$100.38M--$106.72M
Avg Forecast$261.47M$247.26M$243.17M$246.45M$255.20M$239.61M$233.77M$235.63M$211.27M$176.16M$168.42M$181.91M$174.12M$173.27M$169.78M$158.38M$154.60M$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
High Forecast$262.53M$248.26M$244.16M$247.45M$256.24M$240.59M$234.72M$236.48M$212.07M$176.26M$168.42M$181.91M$174.95M$173.97M$170.47M$159.02M$185.53M$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
Low Forecast$260.72M$246.54M$242.47M$245.73M$254.46M$238.92M$233.09M$235.00M$209.63M$176.05M$168.42M$181.91M$173.04M$172.76M$169.29M$157.92M$123.68M$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
# Analysts4443333554224222151112222464535
Surprise %------------1.02%1.01%1.05%--1.02%1.02%--1.13%1.00%--1.00%1.01%--0.96%

Progress Software's average Quarter revenue forecast for Mar 24 based on 2 analysts is $181.91M, with a low forecast of $181.91M, and a high forecast of $181.91M. PRGS's average Quarter revenue forecast represents a 2.79% increase compared to the company's last Quarter revenue of $176.97M (Nov 23).

Progress Software EBITDA Forecast

Nov 26Aug 26May 26Mar 26Nov 25Aug 25May 25Mar 25Nov 24Aug 24May 24Mar 24Nov 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19
# Analysts4443333554224222151112222464535
EBITDA------------$22.54M$62.25M$62.39M--$51.84M$43.83M--$59.14M$34.81M--$40.01M$32.63M--$32.38M
Avg Forecast$78.63M$74.35M$73.12M$74.11M$76.74M$72.05M$70.30M$70.86M$63.53M$52.97M$50.65M$50.24M$52.36M$52.10M$51.05M$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
High Forecast$78.95M$74.65M$73.42M$74.41M$77.05M$72.35M$70.58M$71.11M$63.77M$53.00M$50.65M$60.29M$52.61M$52.31M$51.26M$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
Low Forecast$78.40M$74.14M$72.91M$73.89M$76.52M$71.84M$70.09M$70.67M$63.04M$52.94M$50.65M$40.19M$52.04M$51.95M$50.91M$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
Surprise %------------0.43%1.19%1.22%--0.97%0.83%--1.26%0.79%--1.01%0.92%--0.81%

2 analysts predict PRGS's average Quarter EBITDA for Mar 24 to be $50.24M, with a high of $60.29M and a low of $40.19M. This is 122.93% upper than Progress Software's previous annual EBITDA (Nov 23) of $22.54M.

Progress Software Net Income Forecast

Nov 26Aug 26May 26Mar 26Nov 25Aug 25May 25Mar 25Nov 24Aug 24May 24Mar 24Nov 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19
# Analysts4443333554224222151112222464535
Net Income------------$15.34M$19.10M$12.09M--$21.80M$29.11M--$30.98M$13.56M--$23.98M$16.97M--$13.56M
Avg Forecast$69.89M$64.65M$62.21M$64.56M$67.82M$60.15M$52.93M$47.76M$54.93M$51.34M$43.11M$21.26M$41.05M$45.29M$40.75M$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
High Forecast$70.26M$64.99M$62.53M$64.90M$68.17M$60.47M$53.21M$48.22M$56.29M$51.35M$43.12M$25.51M$41.95M$45.53M$40.97M$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
Low Forecast$69.63M$64.40M$61.97M$64.31M$67.56M$59.93M$52.74M$46.84M$54.02M$51.33M$43.10M$17.00M$39.69M$45.12M$40.60M$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
Surprise %------------0.37%0.42%0.30%--0.51%0.70%--0.86%0.43%--0.71%0.61%--0.45%

Progress Software's average Quarter net income forecast for Mar 24 is $21.26M, with a range of $17.00M to $25.51M. PRGS's average Quarter net income forecast represents a 38.61% increase compared to the company's last Quarter net income of $15.34M (Nov 23).

Progress Software SG&A Forecast

Nov 26Aug 26May 26Mar 26Nov 25Aug 25May 25Mar 25Nov 24Aug 24May 24Mar 24Nov 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19
# Analysts4443333554224222151112222464535
SG&A------------$65.67M$59.40M$61.62M--$54.74M$51.91M--$46.19M$45.72M--$35.70M$34.16M--$38.68M
Avg Forecast$91.67M$86.69M$85.26M$86.41M$89.47M$84.01M$81.96M$82.61M$74.07M$61.76M$59.05M$52.44M$61.05M$60.75M$59.53M$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
High Forecast$92.05M$87.04M$85.60M$86.76M$89.84M$84.35M$82.29M$82.91M$74.35M$61.80M$59.05M$62.92M$61.34M$60.99M$59.77M$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
Low Forecast$91.41M$86.44M$85.01M$86.15M$89.21M$83.77M$81.72M$82.39M$73.50M$61.72M$59.05M$41.95M$60.67M$60.57M$59.35M$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
Surprise %------------1.08%0.98%1.04%--1.03%0.99%--0.98%1.05%--0.91%0.96%--0.97%

Progress Software's average Quarter SG&A projection for Mar 24 is $52.44M, based on 2 Wall Street analysts, with a range of $41.95M to $62.92M. The forecast indicates a -20.16% fall compared to PRGS last annual SG&A of $65.67M (Nov 23).

Progress Software EPS Forecast

Nov 26Aug 26May 26Mar 26Nov 25Aug 25May 25Mar 25Nov 24Aug 24May 24Mar 24Nov 23Aug 23May 23Mar 23Dec 22Aug 22May 22Mar 22Dec 21Aug 21May 21Mar 21Dec 20Aug 20May 20Mar 20Dec 19Aug 19
# Analysts4443333554224222151112222464535
EPS------------$0.35$0.44$0.28--$0.50$0.67--$0.71$0.31--$0.53$0.38--$0.30
Avg Forecast$1.55$1.43$1.38$1.43$1.50$1.33$1.17$1.06$1.21$1.14$0.95$1.14$0.91$1.00$0.90$1.05$1.95$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
High Forecast$1.55$1.44$1.38$1.44$1.51$1.34$1.18$1.07$1.25$1.14$0.95$1.14$0.93$1.01$0.91$1.06$2.18$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
Low Forecast$1.54$1.42$1.37$1.42$1.49$1.33$1.17$1.04$1.19$1.14$0.95$1.14$0.88$1.00$0.90$1.05$1.55$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
Surprise %------------0.39%0.44%0.31%--0.52%0.70%--0.86%0.43%--0.69%0.60%--0.44%

According to 2 Wall Street analysts, Progress Software's projected average Quarter EPS for Mar 24 is $1.14, with a low estimate of $1.14 and a high estimate of $1.14. This represents a 225.63% increase compared to PRGS previous annual EPS of $0.35 (Nov 23).

Progress Software Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
ONTFON24$6.88$18.00161.63%
PDFSPDF Solutions$26.38$43.5064.90%
SPNSSapiens$26.70$38.0042.32%Buy
AGYSAgilysys$92.44$125.3335.58%Buy
PROPROS$24.34$32.0031.47%Buy
PRGSProgress Software$56.30$73.2030.02%Buy
MLNKMeridianLink$20.83$22.759.22%Buy
PYCRPaycor HCM$22.16$19.38-12.55%Hold

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 $73.2 with a range of $68 to $80, implying a 30.02% from its last price of $56.3. 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 30.02% (from the last price of $56.3 to the average price target of $73.2), up by 42.10% based on the highest stock price target, and up by 20.78% based on the lowest stock price target.

Can Progress Software stock reach $80?

PRGS's average twelve months analyst stock price target of $73.2 does not support the claim that Progress Software can reach $80 in the near future.

What is Progress Software's current price target trend?

1 Wall Street analyst forecast a $70 price target for Progress Software (PRGS) this month, up 24.33% from its last price of $56.3. Compared to the last 3 and 12 months, the average price target increased by 24.33% and increased by 22.75%, respectively.

What are Progress Software's analysts' financial forecasts?

Progress Software's analysts financial forecasts for the fiscal year (Nov 2025) are as follows: average revenue is $964.22M (high $968.03M, low $961.48M), average EBITDA is $289.95M (high $291.09M, low $289.12M), average net income is $228.67M (high $230.08M, low $227.06M), average SG&A $338.06M (high $339.39M, low $337.1M), and average EPS is $5.06 (high $5.09, low $5.02). PRGS's analysts financial forecasts for the fiscal year (Nov 2026) are as follows: average revenue is $998.35M (high $1B, low $995.46M), average EBITDA is $300.21M (high $301.43M, low $299.34M), average net income is $261.3M (high $262.68M, low $260.32M), average SG&A $350.02M (high $351.44M, low $349.01M), and average EPS is $5.78 (high $5.81, low $5.76).

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

Based on Progress Software's last annual report (Nov 2023), the company's revenue was $694.44M, beating the average analysts forecast of $675.54M by 2.80%. Apple's EBITDA was $110.52M, missing the average prediction of $201.19M by -45.06%. The company's net income was $70.2M, missing the average estimation of $146.41M by -52.06%. Apple's SG&A was $239.23M, beating the average forecast of $228.99M by 4.47%. Lastly, the company's EPS was $1.62, missing the average prediction of $3.86 by -58.05%. In terms of the last quarterly report (Nov 2023), Progress Software's revenue was $176.97M, beating the average analysts' forecast of $174.12M by 1.64%. The company's EBITDA was $22.54M, missing the average prediction of $52.36M by -56.96%. Progress Software's net income was $15.34M, missing the average estimation of $41.05M by -62.64%. The company's SG&A was $65.67M, beating the average forecast of $61.05M by 7.58%. Lastly, the company's EPS was $0.35, missing the average prediction of $0.908 by -61.45%