1 hour ago
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Keith Noonan, The Motley Fool
Wed, July 1, 2026 astatine 10:22 AM CDT 3 min read
Progress Software (NASDAQ: PRGS) banal is surging successful Wednesday's trading, having risen 17.9% arsenic of 11 a.m. ET. The S&P 500 was flat% astatine the aforesaid constituent successful the regular session, and the Nasdaq Composite was down 0.4%.
After yesterday's marketplace close, Progress published results for the 2nd 4th of its existent fiscal twelvemonth -- which ended May 31. The institution posted income and net for the play that bushed Wall Street's expectations, and investors are besides liking the bundle specialist's guardant guidance.
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Progress Software beats Wall Street's fiscal Q2 targets
Progress Software recorded non-GAAP (adjusted) net of $1.62 connected income of $253.5 cardinal successful fiscal Q2, beating the mean Wall Street expert estimate's telephone for per-share net of $1.49 connected income of $242.74 million. Sales unexpectedly roseate 6.7% twelvemonth implicit twelvemonth successful the quarter, and nett income surged 24% compared to the prior-year period. The institution saw beardown request crossed its merchandise portfolio, with AI-powered offerings helping to assistance income and net show successful the quarter.
What's adjacent for Progress Software?
Along with its fiscal Q2 report, Progress raised its net guidance for the fiscal year. The institution present expects income for the play to travel successful betwixt $990 cardinal and $1.02 cardinal -- up from its erstwhile guidance for income betwixt $988 cardinal and $1 billion. Meanwhile, adjusted net per stock are projected to beryllium betwixt $6.09 and $6.21 -- with the midpoint of its guidance reflecting an $0.18 per stock summation implicit its erstwhile target.
The institution besides hiked its targets for adjusted escaped currency travel to betwixt $271 cardinal and $283 cardinal for the twelvemonth and unlevered escaped currency travel to betwixt $323 cardinal and $334 million. With Progress Software posting better-than-expected fiscal Q2 results and guardant guidance and investors rotating currency backmost into bundle stocks, the company's valuation is getting a large boost today.
Should you bargain banal successful Progress Software close now?
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