On September 30, 2025, Brent Thill from Jefferies set a price target of $50 for Progress Software Corporation (NASDAQ:PRGS). At the time, the stock was trading at $43.89, suggesting a potential increase of about 13.92%. This target was revised down from a previous $60, as reported by TheFly. Progress Software is a prominent player in the AI-powered digital experience and infrastructure software sector.
Progress Software recently held its Q3 2025 earnings call, featuring CEO Yogesh Gupta and CFO Anthony Folger. Analysts from major financial institutions like Citigroup and Oppenheimer & Co. attended. The company reported earnings of $1.5 per share, surpassing the Zacks Consensus Estimate of $1.3 and last year's $1.26. This represents a positive surprise of 15.38%.
The company achieved revenues of $249.8 million for the quarter ending in August 2025, exceeding the Zacks Consensus Estimate by 3.93%. This marks significant growth from the $178.69 million reported in the same period last year. Over the past four quarters, Progress Software has consistently exceeded consensus EPS estimates, showcasing its strong market position.
Despite impressive revenue growth, diluted earnings per share decreased by 32% to $0.44. However, on a non-GAAP basis, earnings per share rose by 19% to $1.50. The operating margin was 18%, while the non-GAAP operating margin stood at 40%. The company has raised its full-year guidance for revenue, earnings per share, and cash flow.
Currently, PRGS is priced at $43.93, reflecting a 3.10% increase. The stock has fluctuated between $42.50 and $46.70 today. Over the past year, it reached a high of $70.56 and a low of $40.29. With a market capitalization of approximately $1.89 billion, today's trading volume is 3,666,122 shares.
