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 5.75% upside from PRGS’s last price of $66.38) 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 5.75% upside from PRGS's last price of $66.38.
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% | 20.52% |
| Oct 01, 2024 | John DiFucci | Guggenheim | $78.00 | $67.01 | 16.40% | 17.51% |
| Sep 25, 2024 | Lucky Schreiner | D.A. Davidson | $70.00 | $64.24 | 8.97% | 5.45% |
| Sep 25, 2024 | Ittai Kidron | Oppenheimer | $70.00 | $57.15 | 22.48% | 5.45% |
| Sep 23, 2024 | Daniel Ives | Wedbush | $68.00 | $56.95 | 19.40% | 2.44% |
| Jun 26, 2024 | Brent Thill | Jefferies | $55.00 | $48.70 | 12.94% | -17.14% |
| Mar 27, 2024 | Lucky Schreiner | D.A. Davidson | $65.00 | $52.63 | 23.50% | -2.08% |
| Mar 25, 2024 | Ittai Kidron | Oppenheimer | $66.00 | $52.48 | 25.76% | -0.57% |
| Mar 29, 2023 | Raymond McDonough | Guggenheim | $64.00 | $55.47 | 15.38% | -3.59% |
| Sep 09, 2022 | Brent Thill | Jefferies | $52.00 | $46.67 | 11.42% | -21.66% |
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 20.52% increase from PRGS last price ($66.38).
Progress Software Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 5 | 8 |
| Avg Price Target | - | $73.20 | $69.00 |
| Last Closing Price | $66.38 | $66.38 | $66.38 |
| Upside/Downside | -100.00% | 10.27% | 3.95% |
In the current month, the average price target of Progress Software stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Progress Software's last price of $66.38. This month's average price target is down -100.00% compared to last quarter, and down -100.00% 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 |
| Jun 26, 2024 | Jefferies | Hold | Hold | Hold |
| Jun 24, 2024 | Barclays | Equal-Weight | Downgrade | |
| Jun 24, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Jun 24, 2024 | Citigroup | Neutral | Neutral | Hold |
| Mar 28, 2024 | Wedbush | Buy | Buy | Hold |
| Mar 25, 2024 | Wedbush | Outperform | Outperform | Hold |
| Mar 25, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Mar 25, 2024 | Citigroup | Neutral | Neutral | Hold |
| Mar 25, 2024 | Guggenheim | Buy | Buy | Hold |
| Mar 29, 2023 | Oppenheimer | Overweight | Overweight | Hold |
| Apr 25, 2022 | Zacks Investment Research | Buy | Upgrade |
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 | $243.92M | $225.53M | $219.76M | $227.49M | $211.42M | $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 | $98.20M | $87.64M | $83.03M | $69.59M |
| High Forecast | $265.85M | $245.82M | $239.52M | $244.54M | $212.22M | $176.26M | $168.42M | $181.91M | $174.95M | $188.85M | $185.05M | $172.62M | $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 | $103.72M | $92.57M | $99.64M | $83.51M |
| Low Forecast | $204.88M | $189.44M | $184.58M | $197.43M | $209.78M | $176.05M | $168.42M | $181.91M | $173.04M | $145.53M | $142.61M | $133.03M | $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 | $88.91M | $79.35M | $66.43M | $55.67M |
| # Analysts | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 4 | 2 | 7 | 13 | 15 | 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 | 7 | 13 | 15 | 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 | $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 | $83.30M | $77.02M | $75.05M | $76.62M | $66.49M | $55.23M | $52.77M | $60.29M | $54.81M | $59.17M | $57.98M | $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 | $64.19M | $59.35M | $57.83M | $61.86M | $65.73M | $55.16M | $52.77M | $40.19M | $54.22M | $45.60M | $44.68M | $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 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 | 7 | 13 | 15 | 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 | $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 | $73.92M | $67.89M | $63.45M | $68.08M | $54.49M | $49.65M | $41.69M | $25.51M | $40.56M | $48.91M | $44.01M | $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 | $52.41M | $48.13M | $44.99M | $53.70M | $52.29M | $49.63M | $41.67M | $17.00M | $38.38M | $34.68M | $31.20M | $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 | 7 | 13 | 15 | 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 | $87.37M | $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 | $95.22M | $88.05M | $85.79M | $87.59M | $76.01M | $63.14M | $60.33M | $62.92M | $62.66M | $67.64M | $66.28M | $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 | $73.38M | $67.85M | $66.12M | $70.72M | $75.14M | $63.06M | $60.33M | $41.95M | $61.98M | $52.13M | $51.08M | $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 | 7 | 13 | 15 | 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 | $1.51 | $1.39 | $1.30 | $1.39 | $1.22 | $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 | $0.57 | $0.47 | $0.40 | $0.18 |
| High Forecast | $1.69 | $1.55 | $1.45 | $1.56 | $1.25 | $1.14 | $0.95 | $1.14 | $0.93 | $1.12 | $1.01 | $1.17 | $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 | $0.61 | $0.50 | $0.48 | $0.22 |
| Low Forecast | $1.20 | $1.10 | $1.03 | $1.23 | $1.20 | $1.14 | $0.95 | $1.14 | $0.88 | $0.79 | $0.71 | $0.83 | $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 | $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 | $6.68 | $18.00 | 169.46% | |
| PDFS | PDF Solutions | $30.44 | $43.50 | 42.90% | |
| PRO | PROS | $23.97 | $32.00 | 33.50% | Buy |
| SPNS | Sapiens | $28.59 | $38.00 | 32.91% | Buy |
| MLNK | MeridianLink | $22.18 | $22.75 | 2.57% | Buy |
| PRGS | Progress Software | $68.86 | $70.20 | 1.95% | Buy |
| PYCR | Paycor HCM | $20.16 | $18.25 | -9.47% | Hold |
| AGYS | Agilysys | $141.74 | $125.33 | -11.58% | Buy |