11:33 AM EDT, 04/01/2025 (MT Newswires) -- Progress Software ( PRGS ) is seeing "solid" demand across its product portfolio, with declining customer churn and growing reliance on its platform, Wedbush said in a Tuesday note.

The firm expects mergers & acquisitions to remain central to Progress Software's ( PRGS ) strategy, citing ample acquisition opportunities in a more favorable regulatory environment. Analysts led by Daniel Ives noted that the integration of ShareFile has progressed faster than expected, contributing to strong earnings growth and margin expansion.

Following a strong fiscal Q1, Progress reaffirmed its full-year revenue guidance of $958 million to $970 million and raised its EPS outlook to between $5.25 and $5.37, above its prior forecast and Wall Street estimates. Wedbush views the guidance increase as a sign of operational momentum and a durable growth trajectory.

Wedbush expects the software developer to report fiscal Q2 earnings of $1.31 per share on revenue of $238.4 million.

Wedbush maintained its outperform rating and a $75 price target on Progress Software's ( PRGS ) stock.

Shares of Progress Software ( PRGS ) rose past 9% in recent Tuesday trading.

Price: 56.20, Change: +4.69, Percent Change: +9.11