02:52 PM EDT, 07/01/2025 (MT Newswires) -- Progress Software ( PRGS ) posted strong Q2 results, driven by steady demand across the business including strength in the data platform portfolio, Oppenheimer said in a Tuesday note.

"Progress delivered a solid quarter as it effectively balances the

integration of ShareFile...with continued deleveraging," it said.

The report added that the firm continues to operate at a high level and is integrating ShareFile ahead of plan. It also pointed to a rise in FY25 guidance for revenue, EPS, and cash flow.

"We're positive on steady execution and the newly announced acquisition of Nuclia, seeing potential for accelerated cross-sell and improved net retention once fully integrated," the note said.

Oppenheimer kept its outperform rating and $80 price target.

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