BUZZ - Progress Software stock falls due to third quarter revenue decline

October 1 - ** The share price of the AI-driven software company Progress Software (PRGS.O) fell 1.7% in pre-market trading to $39.30

** The company reported third-quarter revenue of $246 million, down 1.6% from $249.8 million in the same period last year

** A decline in SaaS and professional services business weighed on revenue

** However, the company raised its fiscal 2026 revenue and adjusted earnings per share (EPS) forecasts to the range of $1.044 billion to $1.052 billion, and $6.15 to $6.23, respectively

** The average rating from six analysts is “strong buy”; the median target price is $53—data compiled by LSEG

** As of the close of the previous trading day, the stock had fallen 6.9% year-to-date

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