Progress Software Analysts Cut Their Forecasts After Q1 Results - Progress Software (NASDAQ:PRGS)

Group 1 - Progress Software Corporation reported quarterly earnings of $1.60 per share, exceeding the analyst consensus estimate of $1.57 per share [1] - The company achieved quarterly sales of $247.799 million, surpassing the analyst consensus estimate of $246.401 million [1] Group 2 - Progress Software raised its FY2026 adjusted EPS guidance from a range of $5.82-$5.96 to $5.91-$6.03 and increased sales guidance from $986 million-$1 billion to $988 million-$1 billion [2] - Following the earnings announcement, Progress Software shares dipped 6.6% to trade at $26.38 [2] Group 3 - Oppenheimer analyst Ittai Kidron maintained an Outperform rating on Progress Software but lowered the price target from $70 to $57 [3] - Wedbush analyst Dan Ives also maintained an Outperform rating while cutting the price target from $65 to $45 [3] - Jefferies analyst Brent Thill maintained a Hold rating and reduced the price target from $45 to $34 [3]