Progress Software (PRGS) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- $1.69
- Estimate
- $1.52
- Surprise
- +11.6%
- Revenue (period 2026-08-31)
- $246.0M
- Score at report (before → after)
- 6.0 → 6.4/10
Revenue source: xbrl.
How the report landed
Progress Software (PRGS) beat the $1.52 estimate with adjusted EPS of $1.69 — a large 11.6% upside surprise. TrendMatrix's engine moved from Buy (Wait) (6.0/10) to Sell at 6.4/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates PRGS Sell at 6.2/10.
4 of the last 4 quarters beat the estimate; this quarter's +11.6% surprise compares with a +9.3% four-quarter average.
What supports the rating
- Strong earnings beat streak (4/4)
- Attractive valuation
What argues against it
- Sector modifier (Technology): -0.8
- Leverage penalty (D/E 2.6): -1.5
- Value-trap signals (2/5): High leverage (D/E 2.6), Material insider selling (3 sells, 0.04% of cap)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $36.93
- Price target
- $48.89
- Stop
- $35.24
- Upside to target
- +32.4%
- Reward-to-risk
- 3.0:1
The stock trades at 19.4× trailing but 5.7× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-10-01 — shown for context, not personalized investment advice.
PRGS at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Infrastructure
- Market cap
- $1.64B
- P/E (fwd)
- 5.7
- P/E (ttm)
- 19.4
- 52-week range
- $23.82–$47.37
- Off 52-week high
- 22.0%
- RSI (14)
- 39
- Volume vs avg
- 1.22×
- Score today
- 6.2/10