Progress Software Corporation (NASDAQ:PRGS) Stock Analysis and Price Target Update

• John Difucci from Guggenheim sets a price target of $83 for NASDAQ:PRGS, indicating a potential increase of about 30.2%.
• Progress Software is expected to report a significant increase in earnings per share and quarterly revenue, reflecting strong financial performance and market expansion.
• Despite some volatility, analyst ratings and market capitalization suggest a cautiously optimistic outlook for PRGS's future performance.

Progress Software Corporation (NASDAQ:PRGS) is a company that provides software solutions for businesses, helping them develop and deploy applications efficiently. The company is known for its robust software products and services that cater to a wide range of industries. As of June 27, 2025, John Difucci from Guggenheim set a price target of $83 for PRGS, suggesting a potential increase of about 30.2% from its current price of $63.75.

Progress Software is preparing to release its second-quarter earnings results on June 30. Analysts expect the company to report earnings of $1.30 per share, up from $1.09 per share in the same period last year. This anticipated growth in earnings per share indicates strong financial performance and could contribute to the stock reaching the $83 target set by Guggenheim.

The company is also expected to report quarterly revenue of $237 million, a significant increase from $175 million a year earlier. This growth in revenue reflects the company's ability to expand its market presence and deliver value to its customers. In the previous quarter, Progress Software exceeded financial expectations, which may further bolster investor confidence in the stock.

Recently, shares of Progress Software rose by 0.3%, closing at $63.75. DA Davidson analyst Lucky Schreiner has maintained a Buy rating on the stock, although the price target has been adjusted from $75 to $70. This adjustment indicates a cautious yet optimistic outlook on the stock's future performance.

The stock for PRGS has shown some volatility, with a low of $63.45 and a high of $64.56 today. Over the past year, it has reached a high of $70.56 and a low of $50.68. With a market capitalization of approximately $2.74 billion and a trading volume of 408,650 shares, PRGS remains a significant player in the software industry.