DA Davidson Rates Progress Software (PRGS) buy, $40 Price Target

DA Davidson maintains its buy rating on PRGS with a $40 price target, a 19.12% upside from the current price.

By EarningsIQ Research Desk · Published Jul 1, 2026, 2:00 PM EDT · Updated Jul 1, 2026, 3:01 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

DA Davidson rated Progress Software Corporation ($PRGS) "buy" with a $40 price target on July 1, 2026.

Since the rating, $PRGS is down 3.6% after 1 week, up 3.6% after 1 month and up 4.3% to date (from the $39.16 close on Jul 1, 2026).

PRGS Progress Software Corporation

$40.84 -0.56% year to date

Daily close · Oct 16, 2026

Key Points

On July 1, 2026, DA Davidson reiterated its buy rating for PRGS, setting a price target of $40.
DA Davidson's $40 price target implies 19.12% upside from Progress Software Corporation's ($PRGS) current $33.58 share price.
PRGS shares traded around $33.58 on Wednesday, with notable insider transactions in May.
Other analysts, including Guggenheim and Oppenheimer, also maintained buy ratings with higher targets.

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DA Davidson reiterated its buy rating for PRGS on July 1, 2026, with a price target of $40. This reflects continued confidence in the company's potential, as analysts anticipate the stock's value to rise from its current trading price of about $33.58.

Analyst rating track record

DA Davidson vs. the S&P 500

YTD return +74.01% hypothetical

All-time return +112.48% S&P 500 +13.07%

vs. S&P 500 +99.41% ahead of the index

Hypothetical returns from DA Davidson's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in PRGS

BlackRock, Inc. increased its holdings in PRGS by 17,049 shares, bringing its total to 6,972,080 shares valued at approximately $178.8 million. Vanguard Portfolio Management LLC opened a new position with 3,430,715 shares worth about $87.9 million. Similarly, Vanguard Capital Management LLC initiated a stake with 1,928,640 shares valued at $49.5 million. State Street Corp trimmed its holdings by 6,665 shares, ending with 1,761,009 shares worth $45.2 million, while Boston Trust Walden Corp reduced its position by 149,422 shares to 1,720,324 shares valued at $44.1 million. Dimensional Fund Advisors LP increased its holdings by 121,314 shares, now holding 1,233,830 shares valued at $31.7 million.

Progress Software Corporation Stock Down 16.3%

Shares of PRGS traded near $33.58 on Wednesday. The stock has been active in the market with a variety of institutional movements and insider transactions. The company's financial performance and market strategies continue to be closely watched by investors.

12-month forecast

$PRGS price target

Progress Software Corporation daily closes and this analyst's $40 target. Not advice.

Insider Buying and Selling at Progress Software Corporation

Several insiders at PRGS have been active recently. On May 19, 2026, Anthony Folger, the Chief Financial Officer, sold 4,474 shares at an average price of $29.13 under a planned transaction. Stephanie Wang, the Chief Legal Officer, also sold 5,019 shares at $28.86 on May 18, 2026, in a planned sale. Earlier, on April 1, 2026, Folger executed multiple transactions, selling 8,042 shares at no specified price and another 3,568 shares at $24.96.

Analysts Set New Price Targets

On July 1, 2026, Guggenheim reiterated a buy rating for PRGS with a price target of $83, indicating strong optimism. Oppenheimer maintained its buy rating with a $50 target, while Citigroup retained a buy rating with a $46 target in April. Jefferies maintained a hold rating with a $34 target at the end of March, and Wedbush held a buy rating with a $45 target.

Bottom Line

DA Davidson's reiterated buy rating with a $40 target shows confidence in PRGS's future growth. Institutional activities and insider transactions indicate ongoing interest and activity in the stock. Investors should note that these analyst ratings and institutional moves are based on past data and may not reflect current conditions.