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.

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