Progress Software (PRGS) Stock Forecast, Price Target & Predictions
PRGS Stock Forecast
Progress Software stock forecast is as follows: an average price target of $62.50 (represents a 7.46% upside from PRGS’s last price of $58.16) 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 $62.50 based on 1-year price targets from 7 Wall Street analysts in the past 3 months, with a price target range of $66.00 to $55.00. This represents a potential 7.46% upside from PRGS's last price of $58.16.
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 |
|---|---|---|---|---|---|---|
| Jun 26, 2024 | Brent Thill | Jefferies | $55.00 | $48.70 | 12.94% | -5.43% |
| Mar 27, 2024 | Lucky Schreiner | D.A. Davidson | $65.00 | $52.63 | 23.50% | 11.76% |
| Mar 25, 2024 | Ittai Kidron | Oppenheimer | $66.00 | $52.48 | 25.76% | 13.48% |
| Mar 29, 2023 | Raymond McDonough | Guggenheim | $64.00 | $55.47 | 15.38% | 10.04% |
| Sep 09, 2022 | Brent Thill | Jefferies | $52.00 | $46.67 | 11.42% | -10.59% |
The latest Progress Software stock forecast, released on Jun 26, 2024 by Brent Thill from Jefferies, set a price target of $55.00, which represents a 12.94% increase from the stock price at the time of the forecast ($48.70), and a -5.43% decrease from PRGS last price ($58.16).
Progress Software Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 1 | 3 |
| Avg Price Target | - | $55.00 | $62.00 |
| Last Closing Price | $58.16 | $58.16 | $58.16 |
| Upside/Downside | -100.00% | -5.43% | 6.60% |
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 $58.16. 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 |
|---|---|---|---|---|
| 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 | Citigroup | Neutral | Neutral | Hold |
| Jun 24, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Mar 28, 2024 | Wedbush | Buy | Buy | Hold |
| Mar 25, 2024 | Oppenheimer | Outperform | Outperform | Hold |
Progress Software's last stock rating was published by Wedbush on Sep 10, 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 | Nov 21 | Aug 21 | May 21 | Mar 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Mar 19 | Nov 18 | Aug 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $174.99M | $178.25M | - | - | $151.22M | $148.75M | - | $140.13M | $147.42M | $122.49M | - | $122.39M | $109.70M | $100.38M | $109.68M | $117.04M | $106.72M | $100.00M | - | $111.33M | $95.68M |
| Avg Forecast | $195.45M | $186.60M | $183.43M | $189.69M | $194.14M | $176.16M | $168.42M | $181.91M | $174.12M | $173.27M | $169.78M | $158.38M | $162.14M | $129.96M | $146.93M | $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 | $94.23M | $92.51M |
| High Forecast | $195.45M | $186.60M | $183.43M | $189.69M | $194.14M | $176.61M | $168.42M | $181.91M | $174.95M | $173.27M | $169.78M | $158.38M | $162.14M | $155.95M | $176.32M | $140.14M | $136.61M | $132.06M | $123.05M | $122.44M | $129.12M | $111.05M | $100.02M | $113.04M | $119.33M | $111.79M | $99.05M | $88.40M | $113.08M | $111.01M |
| Low Forecast | $195.45M | $186.60M | $183.43M | $189.69M | $194.14M | $175.00M | $168.42M | $181.91M | $173.04M | $173.27M | $169.78M | $158.38M | $162.14M | $103.97M | $117.54M | $138.18M | $134.69M | $130.21M | $121.32M | $120.73M | $127.32M | $109.50M | $98.62M | $111.45M | $117.66M | $110.23M | $97.66M | $87.16M | $75.39M | $74.01M |
| # Analysts | 1 | 1 | 1 | 2 | 2 | 5 | 2 | 2 | 4 | 2 | 2 | 8 | 9 | 16 | 16 | 1 | 2 | 2 | 6 | 12 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 13 | 7 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.01% | 1.05% | - | - | 1.16% | 1.01% | - | 1.03% | 1.13% | 1.00% | - | 0.96% | 1.00% | 1.01% | 0.98% | 0.99% | 0.96% | 1.02% | - | 1.18% | 1.03% |
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 | Nov 21 | Aug 21 | May 21 | Mar 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Mar 19 | Nov 18 | Aug 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 5 | 2 | 2 | 4 | 2 | 2 | 8 | 9 | 16 | 16 | 1 | 2 | 2 | 6 | 12 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 13 | 7 |
| EBITDA | - | - | - | - | - | - | - | - | - | $62.25M | $62.39M | - | - | $51.84M | $43.83M | - | $35.47M | $59.14M | $34.81M | - | $31.15M | $40.01M | $32.63M | $37.78M | $9.94M | $32.38M | $27.49M | - | $34.30M | $32.57M |
| Avg Forecast | $70.22M | $67.04M | $65.90M | $68.15M | $69.75M | $63.29M | $60.51M | $50.24M | $62.55M | $62.25M | $61.00M | $45.67M | $58.25M | $34.76M | $51.30M | $41.52M | $26.84M | $31.60M | $30.09M | $28.70M | $25.96M | $39.49M | $33.14M | $34.54M | $9.41M | $29.05M | $23.63M | $23.67M | $32.89M | $31.45M |
| High Forecast | $70.22M | $67.04M | $65.90M | $68.15M | $69.75M | $63.45M | $60.51M | $60.29M | $62.85M | $62.25M | $61.00M | $54.81M | $58.25M | $41.71M | $61.57M | $49.83M | $32.21M | $37.92M | $36.11M | $34.44M | $31.15M | $47.39M | $39.77M | $41.45M | $11.29M | $34.86M | $28.35M | $28.40M | $39.47M | $37.74M |
| Low Forecast | $70.22M | $67.04M | $65.90M | $68.15M | $69.75M | $62.87M | $60.51M | $40.19M | $62.17M | $62.25M | $61.00M | $36.54M | $58.25M | $27.81M | $41.04M | $33.22M | $21.47M | $25.28M | $24.07M | $22.96M | $20.77M | $31.59M | $26.51M | $27.63M | $7.52M | $23.24M | $18.90M | $18.93M | $26.31M | $25.16M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.00% | 1.02% | - | - | 1.49% | 0.85% | - | 1.32% | 1.87% | 1.16% | - | 1.20% | 1.01% | 0.98% | 1.09% | 1.06% | 1.11% | 1.16% | - | 1.04% | 1.04% |
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 | Nov 21 | Aug 21 | May 21 | Mar 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Mar 19 | Nov 18 | Aug 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 5 | 2 | 2 | 4 | 2 | 2 | 8 | 9 | 16 | 16 | 1 | 2 | 2 | 6 | 12 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 13 | 7 |
| Net Income | - | - | - | - | - | - | - | - | - | $19.10M | $12.09M | - | - | $21.80M | $29.11M | - | $14.93M | $30.98M | $13.56M | - | $17.66M | $23.98M | $16.97M | $21.12M | $-4.74M | $13.56M | $8.18M | - | $18.43M | $16.75M |
| Avg Forecast | $58.18M | $56.27M | $53.61M | $56.12M | $56.21M | $49.92M | $41.92M | $21.26M | $39.92M | $44.04M | $39.63M | $19.32M | $47.83M | $18.21M | $26.56M | $17.57M | $11.30M | $16.55M | $11.72M | $13.90M | $14.72M | $23.67M | $17.23M | $19.31M | $-4.49M | $12.16M | $7.03M | $8.80M | $17.67M | $16.17M |
| High Forecast | $58.18M | $56.27M | $53.61M | $56.12M | $56.21M | $50.36M | $41.92M | $25.51M | $40.80M | $44.04M | $39.63M | $23.19M | $47.83M | $21.85M | $31.88M | $21.08M | $13.55M | $19.86M | $14.06M | $16.69M | $17.66M | $28.40M | $20.68M | $23.17M | $-3.59M | $14.59M | $8.44M | $10.56M | $21.21M | $19.40M |
| Low Forecast | $58.18M | $56.27M | $53.61M | $56.12M | $56.21M | $49.48M | $41.92M | $17.00M | $38.60M | $44.04M | $39.63M | $15.46M | $47.83M | $14.56M | $21.25M | $14.05M | $9.04M | $13.24M | $9.38M | $11.12M | $11.77M | $18.93M | $13.79M | $15.44M | $-5.38M | $9.73M | $5.63M | $7.04M | $14.14M | $12.93M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.43% | 0.31% | - | - | 1.20% | 1.10% | - | 1.32% | 1.87% | 1.16% | - | 1.20% | 1.01% | 0.98% | 1.09% | 1.06% | 1.11% | 1.16% | - | 1.04% | 1.04% |
Progress Software's average Quarter net income forecast for Dec 23 is $39.92M, with a range of $38.60M to $40.80M. PRGS's average Quarter net income forecast represents a 109.02% 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 | Nov 21 | Aug 21 | May 21 | Mar 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Mar 19 | Nov 18 | Aug 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 5 | 2 | 2 | 4 | 2 | 2 | 8 | 9 | 16 | 16 | 1 | 2 | 2 | 6 | 12 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 13 | 7 |
| SG&A | - | - | - | - | - | - | - | - | - | $59.40M | $61.62M | - | - | $54.74M | $51.91M | - | $56.22M | $46.19M | $45.72M | - | $47.31M | $35.70M | $34.16M | $36.95M | $44.28M | $38.68M | $37.49M | - | $41.58M | $33.97M |
| Avg Forecast | $70.01M | $66.84M | $65.70M | $67.95M | $69.54M | $63.10M | $60.33M | $52.44M | $62.37M | $62.06M | $60.81M | $47.67M | $58.08M | $27.15M | $47.37M | $43.34M | $42.54M | $24.68M | $39.52M | $31.45M | $39.43M | $35.24M | $34.69M | $33.78M | $41.92M | $34.70M | $32.22M | $32.40M | $39.87M | $32.80M |
| High Forecast | $70.01M | $66.84M | $65.70M | $67.95M | $69.54M | $63.26M | $60.33M | $62.92M | $62.66M | $62.06M | $60.81M | $57.20M | $58.08M | $32.57M | $56.84M | $52.00M | $51.05M | $29.61M | $47.43M | $37.75M | $47.31M | $42.28M | $41.63M | $40.54M | $50.31M | $41.64M | $38.67M | $38.88M | $47.84M | $39.36M |
| Low Forecast | $70.01M | $66.84M | $65.70M | $67.95M | $69.54M | $62.68M | $60.33M | $41.95M | $61.98M | $62.06M | $60.81M | $38.14M | $58.08M | $21.72M | $37.90M | $34.67M | $34.03M | $19.74M | $31.62M | $25.16M | $31.54M | $28.19M | $27.75M | $27.02M | $33.54M | $27.76M | $25.78M | $25.92M | $31.90M | $26.24M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.96% | 1.01% | - | - | 2.02% | 1.10% | - | 1.32% | 1.87% | 1.16% | - | 1.20% | 1.01% | 0.98% | 1.09% | 1.06% | 1.11% | 1.16% | - | 1.04% | 1.04% |
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 | Nov 21 | Aug 21 | May 21 | Mar 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Mar 19 | Nov 18 | Aug 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 2 | 2 | 5 | 2 | 2 | 4 | 2 | 2 | 8 | 9 | 16 | 16 | 1 | 2 | 2 | 6 | 12 | 12 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 13 | 7 |
| EPS | - | - | - | - | - | - | - | - | - | $0.44 | $0.28 | - | - | $0.50 | $0.67 | - | $0.34 | $0.71 | $0.31 | - | $0.39 | $0.53 | $0.38 | $0.47 | $-0.11 | $0.30 | $0.18 | - | $0.41 | $0.37 |
| Avg Forecast | $1.32 | $1.28 | $1.22 | $1.28 | $1.28 | $1.14 | $0.95 | $1.14 | $0.91 | $1.00 | $0.90 | $1.05 | $1.09 | $1.27 | $1.15 | $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 | $0.70 | $0.56 |
| High Forecast | $1.32 | $1.28 | $1.22 | $1.28 | $1.28 | $1.15 | $0.95 | $1.14 | $0.93 | $1.00 | $0.90 | $1.05 | $1.09 | $1.27 | $1.18 | $0.86 | $0.75 | $0.83 | $0.73 | $0.76 | $0.79 | $0.78 | $0.64 | $0.70 | $0.76 | $0.69 | $0.57 | $0.48 | $0.84 | $0.67 |
| Low Forecast | $1.32 | $1.28 | $1.22 | $1.28 | $1.28 | $1.13 | $0.95 | $1.14 | $0.88 | $1.00 | $0.90 | $1.05 | $1.09 | $1.27 | $1.14 | $0.84 | $0.73 | $0.82 | $0.72 | $0.74 | $0.77 | $0.76 | $0.63 | $0.69 | $0.74 | $0.68 | $0.56 | $0.47 | $0.56 | $0.45 |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.44% | 0.31% | - | - | 0.39% | 0.58% | - | 0.46% | 0.86% | 0.43% | - | 0.50% | 0.69% | 0.60% | 0.68% | -0.15% | 0.44% | 0.32% | - | 0.59% | 0.66% |
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 | $6.18 | $18.00 | 191.26% | - |
| PRO | PROS | $18.40 | $41.00 | 122.83% | Buy |
| PYCR | Paycor HCM | $13.73 | $23.11 | 68.32% | Hold |
| PDFS | PDF Solutions | $29.23 | $43.50 | 48.82% | - |
| AGYS | Agilysys | $103.48 | $114.25 | 10.41% | Buy |
| ENV | Envestnet | $62.65 | $68.52 | 9.37% | Hold |
| PRGS | Progress Software | $58.14 | $62.50 | 7.50% | Buy |
| SPNS | Sapiens | $35.85 | $38.00 | 6.00% | Buy |
| PWSC | PowerSchool | $22.77 | $24.08 | 5.75% | Hold |
| MLNK | MeridianLink | $23.73 | $20.00 | -15.72% | 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 $62.5 with a range of $55 to $66, implying a 7.46% from its last price of $58.16. 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 7.46% (from the last price of $58.16 to the average price target of $62.5), up by 13.48% based on the highest stock price target, and down by -5.43% based on the lowest stock price target.
Can Progress Software stock reach $90?
PRGS's average twelve months analyst stock price target of $62.5 does not support the claim that Progress Software can reach $90 in the near future.
Did the PRGS's actual financial results beat the analysts' financial forecasts?
Based on Progress Software's last annual report (Nov 2021), the company's revenue was $531.31M, beating the average analysts forecast of $509.73M by 4.23%. Apple's EBITDA was $198.1M, beating the average prediction of $117.23M by 68.98%. The company's net income was $78.42M, beating the average estimation of $53.47M by 46.66%. Apple's SG&A was $191.02M, beating the average forecast of $138.2M by 38.22%. Lastly, the company's EPS was $1.79, missing the average prediction of $3.03 by -41.00%. 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 $44.04M by -56.64%. 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%