Wedbush lowered the firm’s price target on Progress Software (PRGS) to $45 from $65 to reflect a lower multiple, while keeping an Outperform rating on the shares. The firm notes the company reported its Q1 results featuring beats on the top and bottom-lines while raising the low end of its FY26 guidance across the board as the company looks to continue capitalizing on its long-term total growth strategy.
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Read More on PRGS:
- Progress Software price target lowered to $57 from $70 at Oppenheimer
- Progress Software price target lowered to $34 from $45 at Jefferies
- Progress Software Posts Strong Q1 Results, Raises EPS Outlook
- Closing Bell Movers: Phreesia down over 20% after guidance cut
- Progress Software reports Q1 non-GAAP EPS $1.60, consensus $1.57