Fintel reports that on October 13, 2025, Citigroup upgraded their outlook for Progress Software (NasdaqGS:PRGS) from Neutral to Buy.
Analyst Price Forecast Suggests 59.91% Upside
As of September 30, 2025, the average one-year price target for Progress Software is $71.40/share. The forecasts range from a low of $57.57 to a high of $87.15. The average price target represents an increase of 59.91% from its latest reported closing price of $44.65 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Progress Software is 655MM, a decrease of 30.32%. The projected annual non-GAAP EPS is 4.83, a decrease of 10.98% from the prior forecast.
What is the Fund Sentiment?
There are 695 funds or institutions reporting positions in Progress Software. This is an increase of 15 owner(s) or 2.21% in the last quarter. Average portfolio weight of all funds dedicated to PRGS is 0.17%, an increase of 2.83%. Total shares owned by institutions decreased in the last three months by 2.20% to 63,111K shares. 
The put/call ratio of PRGS is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,569K shares representing 5.99% ownership of the company. In its prior filing, the firm reported owning 2,682K shares , representing a decrease of 4.36%. The firm increased its portfolio allocation in PRGS by 17.74% over the last quarter.
Boston Trust Walden holds 1,797K shares representing 4.19% ownership of the company. In its prior filing, the firm reported owning 1,764K shares , representing an increase of 1.83%. The firm decreased its portfolio allocation in PRGS by 24.90% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,399K shares representing 3.26% ownership of the company. In its prior filing, the firm reported owning 1,366K shares , representing an increase of 2.35%. The firm increased its portfolio allocation in PRGS by 13.24% over the last quarter.
Wellington Management Group Llp holds 1,086K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 1,357K shares , representing a decrease of 24.98%. The firm decreased its portfolio allocation in PRGS by 86.87% over the last quarter.
Geode Capital Management holds 1,067K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 1,062K shares , representing an increase of 0.49%. The firm decreased its portfolio allocation in PRGS by 41.10% over the last quarter.
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