Top Wall Street Forecasters Revamp Progress Software Price Expectations Ahead Of Q3 Earnings

Progress Software Corporation PRGS will release earnings results for its third quarter, after the closing bell on Tuesday, Sept. 24.

Analysts expect the Burlington, Massachusetts-based company to report quarterly earnings at $1.14 per share, up from $1.08 per share in the year-ago period. Progress Software projects to report revenue of $175.94 million for the quarter, according to data from Benzinga Pro.

On Sept. 9, the company entered a definitive deal to acquire ShareFile for $875 million, in a combination of cash and an existing revolving credit facility.

Progress Software shares fell 0.1% to close at $57.59 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.

• DA Davidson analyst Lucky Shreiner maintained a Buy rating with a price target of $65 on Sept. 10. This analyst has an accuracy rate of 63%.
• Wedbush analyst Daniel Ives reiterated an Outperform rating with a price target of $68 on Sept. 10. This analyst has an accuracy rate of 75%.
• Oppenheimer analyst Ittai Kidron maintained an Outperform rating with a price target of $66 on June 26. This analyst has an accuracy rate of 65%.
• Jefferies analyst Brent Thill maintained a Hold rating and slashed the price target from $60 to $55 on June 26. This analyst has an accuracy rate of 78%.
• Guggenheim analyst Raymond McDonough reiterated a Buy rating with a price target of $64 on June 25. This analyst has an accuracy rate of 71%.

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

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