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An announcement from Progress Software ( (PRGS) ) is now available.
On March 30, 2026, Progress Software reported fiscal first-quarter 2026 results for the period ended February 28, 2026, posting revenue of $248 million, up 4% year over year, and ARR of $863 million, up 2% in constant currency. GAAP operating margin rose to 19% and non-GAAP margin to 41%, while diluted EPS more than doubled to $0.53 and non-GAAP EPS climbed 22% to $1.60, supported by robust cash from operations of about $99 million and continued debt reduction and share buybacks.
Management highlighted strong margins, collections and a reinforced balance sheet, with cash and equivalents at $113.2 million and days sales outstanding improving versus the prior quarter. For fiscal 2026, Progress maintained its revenue outlook at $988 million to $1 billion and operating margin of 16%–17%, nudged up its non-GAAP EPS guidance, and projected solid cash generation, underscoring confidence in its durable, cash-rich model and AI-enhanced product portfolio despite currency-related impacts.
The most recent analyst rating on (PRGS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Progress Software stock, see the PRGS Stock Forecast page.
Spark’s Take on PRGS Stock
According to Spark, TipRanks’ AI Analyst, PRGS is a Neutral.
The score is supported primarily by strong cash-flow performance and constructive FY26 guidance (growth, margins, and free-cash-flow outlook), but is held back by balance-sheet leverage risk and very weak technical momentum (price below major moving averages with negative MACD), with valuation appearing only moderate at a ~24.7 P/E.
To see Spark’s full report on PRGS stock, click here.
More about Progress Software
Progress Software, headquartered in Burlington, Mass., is a provider of AI-powered digital experience and infrastructure software. The company focuses on delivering platforms and tools that help enterprises build, deploy and manage business-critical applications, emphasizing recurring revenue, high operating margins and strong cash generation.
Average Trading Volume: 1,036,304
Technical Sentiment Signal: Sell
Current Market Cap: $1.17B
For an in-depth examination of PRGS stock, go to TipRanks’ Overview page.