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BURLINGTON, Mass. - Progress Software (NASDAQ:PRGS), a $1.81 billion software company with impressive gross profit margins of 85.71%, announced Thursday an expansion of its AI-powered developer capabilities in the Q3 2025 release of its Telerik and Kendo UI toolsets. According to InvestingPro data, the company has demonstrated strong revenue growth of 22.1% over the last twelve months.
The company is extending its AI Coding Assistants technology across all major UI component libraries, including ASP.NET Core, WPF, WinForms, .NET MAUI and Angular. The technology is also being introduced to Telerik Reporting and Progress Document Processing for the first time. Despite trading near its 52-week low of $41.91, down significantly from its high of $70.56, InvestingPro analysis suggests the stock is currently undervalued, with analysts maintaining positive growth forecasts for the company.
According to the company’s press release, the AI assistants integrate with popular AI coding solutions like GitHub Copilot, Claude Code and Cursor, providing specialized, context-aware code that understands the intricacies of Telerik and Kendo UI components.
Early adopters have reported productivity increases of up to 30% beyond what AI-powered integrated development environments (IDEs) already provide, the company stated.
"While great efficiency drivers, these generic AI coding tools fall short when generating a sophisticated user interface with high expectations for experience and precision," said Loren Jarrett, EVP and GM of Digital Experience at Progress Software.
The company is also introducing new capabilities in Progress ThemeBuilder, allowing developers to create and customize themes using conversational prompts.
Additionally, the Telerik and Kendo UI libraries include AI features that developers can embed into applications for end-users, such as AI-enhanced Conversational UI, Inline AI Prompt for in-context interactions, and AI Assistant column in Data Grids.
Progress Software provides AI-powered digital experience and infrastructure software, with its products used by approximately 4 million developers and technologists at hundreds of thousands of enterprises, according to the company statement. For deeper insights into Progress Software’s financial health and growth potential, including additional ProTips and comprehensive analysis, investors can access the full Pro Research Report available on InvestingPro.
In other recent news, Progress Software Corporation reported its second-quarter earnings for fiscal year 2025, exceeding expectations with an earnings per share of $1.40, compared to the projected $1.30. However, the company’s revenue slightly missed estimates, recording $237 million against the anticipated $237.53 million. The company also announced an increase in its revolving credit facility to $1.5 billion, up from the previous $900 million, extending the maturity date to July 31, 2030. This expansion was completed through a Fifth Amended and Restated Credit Agreement.
In terms of analyst activity, Citi has lowered its price target for Progress Software to $57, maintaining a Neutral rating. The firm cites softer-than-expected cash flow and year-over-year license revenue declines as contributing factors. Conversely, DA Davidson raised its price target to $75, reiterating a Buy rating, citing consistent business strength. These developments reflect differing perspectives on the company’s financial health and market performance.
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