Progress Software Corporation (NASDAQ: PRGS) will release third-quarter earnings after the closing bell on Wednesday, September 30. The Burlington, Massachusetts-based company faces a consensus estimate of $1.52 per share, a slight increase from the $1.50 per share reported in the year-ago period.

Analysts project quarterly revenue of $247.14 million. This forecast sits below the $249.79 million reported in the same quarter last year, indicating a potential contraction in top-line performance despite the modest earnings per share growth.

Analyst Sentiment and Price Targets

Recent actions from Wall Street analysts reflect diverging views on the stock's valuation. While most firms maintained their rating categories, several adjusted price targets downward in recent months.

What the Numbers Show

A divergence exists between revenue expectations and earnings forecasts. The consensus revenue of $247.14 million is lower than the prior year's $249.79 million, yet the expected EPS of $1.52 exceeds the previous year's $1.50. This suggests that analysts anticipate margin expansion or cost efficiencies to drive profitability even as top-line revenue potentially declines.

Additionally, the spread in price targets is significant. Guggenheim's $83 target contrasts sharply with Jefferies' $34 target, highlighting a wide range of opinion on Progress Software's valuation amidst mixed recent revisions.

Progress Software (NASDAQ: PRGS) has appointed Bridget Collins as its Chief Information Officer. The company announced the move on August 18, 2026, stating that Collins will lead the global IT and security organization while reporting directly to CEO Yogesh Gupta.

Collins brings more than 30 years of experience in enterprise IT, business transformation, and AI strategy to the role. Her responsibilities will include advancing AI across internal operations and overseeing cybersecurity for the company. This involves evaluating emerging technologies and strengthening governance frameworks for data, security, and AI usage.

Strategic Focus

CEO Yogesh Gupta highlighted the operational excellence of the CIO team in enabling the company’s growth strategy. He noted that Collins’ expertise in enterprise technology and cybersecurity will help scale operations, integrate acquisitions, and deliver experiences for employees and customers. Gupta also mentioned that Collins is returning to Progress, where she began her career as a software engineer.

Collins emphasized Progress’ position as a leader in delivering context and control for AI initiatives. She stated her intention to partner across the business to expand the company’s AI vision in support of customers and employees.

Background

Before joining Progress, Collins served as Chief Information and Business Transformation Officer at Rapid7, where she led global IT and operations. Her previous leadership roles include Chief Transformation Officer and CIO at Cerence, and Vice President of Information Technology at Nuance Communications.

Collins was named a 2021 BostonCIO of the Year ORBIE Award winner. She holds a bachelor’s degree from Providence College and an MBA in High Technology Management from Northeastern University.