PRGS
Progress Software Corporation
PRGS
40.23USD
-1.95%
Sep 25, 2026
Price
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Price Action
Constructive pullback in an uptrend
Longer-term context reads damaged structure, with a near-term setup of constructive pullback.
The setup is constructive, but the underlying structure is still poor.
EntryReset + recovery
The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.
Key Financials
- Market Cap
- $1.6B
- Avg Volume (60D)
- 495.5K
- Revenue Growth YoY
- +29.8%
- Gross Margin
- +81.8%
- Operating Margin
- +17.3%
- Free Cash Flow Yield
- +18.5%
- Distance from 200DMA
- +8.8%
- Next Earnings
- 2026-09-30
- P/E
- 18.5x
- EV / Sales
- 2.8x
60 sessions
FY2025 vs FY2024
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 24, 2026
Financial results for the period ended May 31, 2026
Filed balance-sheet data as of May 31, 2026
Fundamentals & Valuation
Two of the three valuation perspectives say cheap; own history is the dissenting view. The published stance is held at fair because net debt above 60% of market capitalisation — refinancing risk may explain the price.
Progress Software Corporation has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Company Research
Thesis
Progress is an enterprise-software enabler rather than an AI pure play. Its portfolio combines legacy application-development and infrastructure software with ShareFile content workflows, Agentic RAG knowledge retrieval, data-platform capabilities and AI-enabled digital-experience tooling.
Opportunity
Moderate opportunity
Enterprise spending on governed data, retrieval, semantic context, workflow connectivity and observability needed to move generative-AI and agent deployments from pilots into reliable production use.
Key risk
Competition from larger software vendors.
Narrative & Theme
Enterprise AI Adoption and Data Modernization
Part of Governed Enterprise AI Knowledge and Data Platforms, with moderate fit.
PRGS has a genuine, specific exposure to enterprise AI productionization through governed retrieval, enterprise content/data access and AI-enabled workflow and application tooling.
Narrative HeatUnavailable
Theme HeatHeating up7.3 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.
Business & Markets
Technology · Software - Infrastructure
What they do
Progress Software Corporation develops, deploys, and manages AI-powered applications and digital experiences through software products offered globally.
How it earns
The company primarily generates revenue through subscription-based Software-as-a-Service (SaaS) platforms and software licensing.
Products & services
Agentic RAG platform
Automate MFT
Chef DevOps automation
Corticon decision automation
DataDirect data connectivity tools
Customers & end markets
Enterprise IT departments
Software developers
Organizations requiring secure data transfer and automation
Market position
Niche player with specialized software products focused on AI, automation, and secure data connectivity.
Demand drivers
Medium cyclicality
Demand for enterprise software can be influenced by broader IT spending cycles but also driven by ongoing digital transformation needs.
Peers
Companies validated as economically comparable to PRGS — similar business, revenue model and scale.
PRICE ACTIONVALUATIONTHEME
Appian is a focused enterprise process-automation platform provider whose low-code development, workflow orchestration, data fabric, RPA, and AI capabilities are used to build and operate end-to-end business processes.
NarrativeEnterprise AI Workflow AutomationThemeAI-Enabled Process Orchestration and Low-Code Automation
Constructive pullback: trend intact, pulling toward support.30-day price action