Top Wall Street Forecasters Revamp Progress Software Expectations Ahead Of Q2 Earnings

Progress Software Corporation PRGS is scheduled to release its second quarter financial results, after the closing bell on Tuesday.

Analysts expect the Burlington, Massachusetts-based company to report quarterly earnings at 95 per share, down from $1.06 per share in the year-ago period. Progress Software is expected to post revenue of $168.42 million, according to data from Benzinga Pro.

On March 26, Progress Software posted better-than-expected first-quarter results.

Progress Software shares gained 1.5% to close at $48.93 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.

• JP Morgan analyst Pinjalim Bora maintained an Overweight rating and cut the price target from $65 to $63 on March 27. This analyst has an accuracy rate of 75%.
• Oppenheimer analyst Ittai Kidron maintained an Outperform rating with a price target of $66 on March 27. This analyst has an accuracy rate of 60%.
• Citigroup analyst Fatima boolani maintained a Neutral rating and raised the price target from $57 to $62 on Aug. 8, 2023. This analyst has an accuracy rate of 75%.
• Stifel analyst Shlomo Rosenbaum reiterated a Hold rating with a price target of $469 on March 22. This analyst has an accuracy rate of 67%.
• Barclays analyst Manav Patnaik downgraded the stock from Overweight to Equal-Weight rating and cut the price target from $480 to $460 on March 22. This analyst has an accuracy rate of 76%.

Read This Next: $2M Bet On Exxon Mobil? Check Out These 3 Stocks Insiders Are Buying