New Price Target for Progress Software Amid Sector Pressures

Progress Software Corporation (NASDAQ:PRGS) is among the 14 Most Undervalued Cybersecurity Stocks to Invest In.

On April 1, Citi analyst Fatima Boolani lowered the firm’s price target on Progress Software Corporation (NASDAQ:PRGS) to $46 from $60 while maintaining a Buy rating, reflecting a more conservative valuation framework amid broader software sector pressures. The adjustment suggests that while the company’s fundamentals remain intact, external factors such as multiple compressions and macro uncertainty are influencing near-term expectations.

On March 31, Wedbush also reduced its price target on Progress Software Corporation (NASDAQ:PRGS) to $45 from $65 while maintaining an Outperform rating, following the company’s Q1 earnings release. Despite the lower target, the firm highlighted strong operational performance, including beats on both revenue and earnings, and an increase in the low end of fiscal 2026 guidance. Progress continues to execute on its long-term growth strategy, leveraging acquisitions and product expansion to drive recurring revenue and margin improvement.

Progress Software Corporation (NASDAQ:PRGS) is an American multinational company that provides infrastructure software, data connectivity solutions, and application development tools. The company focuses on enabling enterprises to build, deploy, and manage business-critical applications efficiently, with an increasing emphasis on security and digital experience platforms. With a strategy centered on disciplined acquisitions and recurring revenue growth, Progress Software offers a compelling investment narrative driven by operational consistency and long-term value creation.

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