Yorkville Ives targets USD 48.00 for Progress Software stock at USD 40.84 on October 16, 2026

Published on 10/17/2026 at 20:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue was USD 246.01 million. Progress Software stock was USD 40.84 on October 16, 2026, down 0.07 percent versus Nasdaq's prior close.

Analyst view and valuation

Yorkville Ives initiated coverage with a USD 48.00 target on October 7, 2026.
Fiscal third-quarter revenue reached USD 246.01 million for the period ended August 31, 2026.
Progress Software stock was USD 40.84 at 4:00 p.m. ET on October 16, 2026, down 0.07 percent versus the Nasdaq prior close of October 15, 2026.
Progress Software had a USD 1.7 billion market capitalization and a P/E ratio of 18.82 on October 16, 2026.

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Yorkville Ives initiated coverage of Progress Software with an outperform rating and a USD 48.00 price target on October 7, 2026, according to Investing.com. The target was 17.53 percent above the Nasdaq price of USD 40.84 at the end of the latest completed session.

Revenue reached USD 246.01 million

Progress Software reported fiscal third-quarter revenue of USD 246.01 million for the period ended August 31, 2026. Diluted earnings per share came to USD 0.55 for the same quarter, while net profit was USD 22.78 million, according to EarningsToday.

Stock stays below its yearly high

The Nasdaq-listed stock's USD 23.82 to USD 47.25 52-week range places the latest USD 40.84 price 13.57 percent below the high and 71.45 percent above the low, as of October 16, 2026. Trading volume was 757,291 shares against an average of 554,443 shares on that date.

Valuation and market comparison

Progress Software had a USD 1.7 billion market capitalization and a P/E ratio of 18.82 on October 16, 2026. The company operates on a November fiscal year, with fiscal quarters ending in February, May, August and November, according to its investor-relations page.

Comparison with peers

Progress Software (Nasdaq, USD): minus 0.07 percent, P/E 18.82, market capitalization USD 1.7 billion
ServiceNow (NYSE, USD): minus 4.44 percent, P/E 88.73, market capitalization USD 146.8 billion
Salesforce (NYSE, USD): minus 2.45 percent, P/E 21.96, market capitalization USD 198.1 billion

The latest completed session

The latest Nasdaq price stood at USD 40.84 on October 16, 2026 at 4:00 p.m. ET, down 0.07 percent versus the prior close of October 15, 2026. Progress Software provides software for application development, data connectivity, content management and infrastructure automation.