Citi Lowers its PT on Progress Software (PRGS) to $46 and Maintains Buy Rating

Progress Software Corporation (NASDAQ:PRGS) is one of the 8 Most Oversold Strong Buy-Rated Stocks to Invest In.

On April 1, 2026, Citi analyst Fatima Boolani lowered the price target on Progress Software Corporation (NASDAQ:PRGS) to $46 from $60 previously and maintained a Buy rating on the shares.

On March 31, 2026, Oppenheimer analyst Ittai Kidron lowered the price target on Progress Software Corporation (NASDAQ:PRGS) to $57 from $70 previously to reflect industry multiple compression while keeping an Outperform rating. Ittai Kidron noted the company delivered a solid Q1, with revenue and earnings ahead of expectations, supported by expense discipline and operating margin upside.

On March 30, 2026, Progress Software Corporation (NASDAQ:PRGS) reported Q1 non-GAAP EPS of $1.60, above the $1.57 consensus estimate, with revenue of $248M compared to the $246.4M consensus. The company expects FY26 non-GAAP EPS of $5.91-$6.03 versus the $5.88 consensus and sees revenue of $988M-$1B compared to the $993.34M consensus.

Citi Lowers its PT on Progress Software (PRGS) to $46 and Maintains Buy Rating

Progress Software Corporation (NASDAQ:PRGS) develops and manages AI-powered applications and digital experiences.

While we acknowledge the risk and potential of PRGS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PRGS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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