Citi Trims Progress Software (PRGS) PT to $54, Maintains Buy Rating

Group 1 - Progress Software Corporation (NASDAQ:PRGS) is highlighted as a promising small-cap tech stock for investment, with a focus on its infrastructure software outlook for 2026 [1][4] - Citi has reduced its price target for Progress Software from $57 to $54 while maintaining a Buy rating, anticipating that the sector's strong momentum will continue into 2026 [1][4] - Jefferies has lowered its price target for Progress Software from $50 to $45, maintaining a Hold rating due to a cautious outlook for 2026, emphasizing the need for significant growth acceleration in AI monetization [2][3] Group 2 - Jefferies advises investors to be patient and selective as sector valuations align with historical averages, while remaining confident in the long-term value within the software layer [3] - Progress Software provides software products that develop, deploy, and manage AI-powered applications and digital experiences both in the US and internationally [4]