Progress Software (PRGS) PT Lowered to $50 at Jefferies

Jefferies analyst Brent Thill lowered the price target on Progress Software (NASDAQ: PRGS) to $50.00 (from $60.00) while maintaining a Hold rating.

The analyst comments "PRGS delivered a strong F3Q with $250M in rev ($10M beat), driven by broad-based product strength (most notably ShareFile and OpenEdge). Mgmt highlighted continued progress on the ShareFile integration, while FY25 guidance largely reflected a pass-through of the F3Q beat with no change to F4Q expectations. At 8x CY26 EPS, valuation screens inexpensive vs peers, but with limited catalysts to accelerate pro-forma growth, we maintain our Hold rating (PT to $50)."

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