Progress Software stock raises guidance after Domo deal closed,

Published on 10/04/2026 at 15:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Progress Software stock reported USD 246 million in fiscal Q3 revenue on September 30, 2026, while adjusted EPS reached USD 1.69. Fiscal 2026 revenue guidance rose to USD 1,044 million-1,052 million.

PRGS, US7433121008, Illustration mit AI erstellt.

Progress Software stock (ISIN US7433121008) was last at USD 36.90 on Nasdaq on October 2, 2026, with a 0.87 percent daily increase and a market capitalization of USD 1.5 billion. The company raised its fiscal 2026 revenue outlook after reporting fiscal third-quarter results and confirming the completed acquisition of Domo, as Progress Software stated on September 30, 2026.

Guidance moves above USD 1 billion

Progress set fiscal 2026 revenue guidance at USD 1,044 million-1,052 million, compared with the prior range of USD 990 million-1,002 million. The updated outlook also calls for non-GAAP diluted EPS of USD 6.15-6.23 and a non-GAAP operating margin of 38 percent for the fiscal year ending November 30, 2026, according to Progress Software.

The increase incorporates the Domo AI and data platform business, whose acquisition closed on September 22, 2026. Investing.com reported that Progress paid USD 400 million in cash and expects the acquired business to stabilize at USD 280 million-290 million in annualized revenue.

Profitability outpaces revenue growth

Fiscal Q3 revenue was USD 246 million for the period ended August 31, 2026, down 2 percent from USD 249.795 million a year earlier. Non-GAAP diluted EPS rose 13 percent to USD 1.69 from USD 1.50, while the non-GAAP operating margin reached 43 percent, up from 40 percent, the company reported.

Annualized recurring revenue increased 1 percent year over year to USD 873 million on a constant-currency basis. The contrast is important: recurring revenue growth remained limited, but adjusted earnings and operating margin improved materially in the same quarter.

Analysts see room above the quote

MarketBeat reported on September 30, 2026, that five analysts rated Progress a Buy and two rated it Hold, producing a Moderate Buy consensus and an average price target of USD 52.17. Relative to the USD 36.90 Nasdaq quote on October 2, 2026, that target lies 41.38 percent above the price.

The same MarketBeat report said DA Davidson raised its target from USD 45.00 to USD 55.00 and retained a Buy rating on August 12, 2026. The main counter-factor is integration: Progress guided to a 36 percent-37 percent non-GAAP operating margin for fiscal 2027 while it absorbs Domo-related costs.

Progress Software stock remains below its yearly high

Progress Software stock was last at USD 36.90 on Nasdaq on October 2, 2026, with a 52-week range of USD 23.82-47.31 and volume of 1,008,715 shares. The quote stood 21.99 percent below the 52-week high, leaving the raised guidance and Domo integration as the central valuation checkpoints.