PROG Holdings Completes Purchasing Power Acquisition and Financing

PROG Holdings ( (PRG) ) has issued an announcement.

On January 2, 2026, PROG Holdings closed its previously announced acquisition of Atlanta-based Purchasing Power, an employer-focused voluntary benefit company that lets workers buy brand-name products and services via payroll deduction, in a $420 million all-cash deal funded with a mix of cash on hand and new debt. To finance the transaction and related costs, the company entered into a fourth amendment to its existing credit agreement, adding a $125 million incremental term loan maturing in 2029, drawing $135 million from its revolving facility, revising interest-rate grids and commitment fees, loosening leverage covenants in the near term and creating additional flexibility for restricted payments and receivables and warehouse financing. The acquisition brings Purchasing Power’s more than 360 employer relationships and access to over 7 million employees into PROG’s ecosystem, broadening its employer-based distribution channel and is expected to enhance its ability to expand payment solutions, deepen customer engagement and support its long-term growth strategy.

The most recent analyst rating on (PRG) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on PROG Holdings stock, see the PRG Stock Forecast page.

Spark’s Take on PRG Stock

According to Spark, TipRanks’ AI Analyst, PRG is a Outperform.

PROG Holdings’ overall stock score reflects a solid financial foundation with strong profitability and cash flow, despite a significant revenue decline. The valuation is attractive, and the earnings call provided a positive outlook with some challenges. Technical analysis suggests a neutral trend. The strategic corporate events, while positive, are not factored into the weighted score due to their separate consideration.

To see Spark’s full report on PRG stock, click here.

More about PROG Holdings

PROG Holdings, Inc. (NYSE: PRG) is a Salt Lake City-based fintech holding company that provides transparent and competitive payment options and inclusive consumer financial products. Through its subsidiaries Progressive Leasing, Four Technologies and Build, the company offers e-commerce, app-based and in-store lease-to-own solutions, Buy Now, Pay Later payment options and personal credit-building products, primarily serving consumers seeking flexible, non-traditional financing alternatives.

Average Trading Volume: 489,766

Technical Sentiment Signal: Sell

Current Market Cap: $1.17B

Find detailed analytics on PRG stock on TipRanks’ Stock Analysis page.