Top Wall Street Forecasters Revamp Progress Software Price Expectations Ahead Of Q1 Earnings

Progress Software Corporation PRGS will release its first-quarter financial results after the closing bell on Monday, March 31.

Analysts expect the Burlington, Massachusetts-based company to report quarterly earnings at $1.06 per share, down from $1.25 per share in the year-ago period. Progress Software projects quarterly revenue of $235.63 million, compared to $184.69 million a year earlier, according to data from Benzinga Pro.

On Feb. 27, Progress named Ed Keisling to the role of Chief AI Officer.

Progress Software shares fell 4% to close at $51.39 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Guggenheim analyst John Difucci reiterated a Buy rating with a price target of $83 on Jan. 22, 2025. This analyst has an accuracy rate of 67%.
• Citigroup analyst Fatima Boolani maintained a Neutral rating and raised the price target from $65 to $68 on Jan. 17, 2025. This analyst has an accuracy rate of 76%.
• Jefferies analyst Brent Thill maintained a Hold rating and raised the price target from $65 to $70 on Jan. 6, 2025. This analyst has an accuracy rate of 76%.
• Oppenheimer analyst Ittai Kidron maintained an Outperform rating and boosted the price target from $70 to $80 on Oct. 22, 2024. This analyst has an accuracy rate of 69%.
• Wedbush analyst Daniel Ives reiterated an Outperform rating with a price target of $68 on Sept. 10, 2024. This analyst has an accuracy rate of 80%.

Considering buying PRGS stock? Here’s what analysts think:

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