Wall Street analysts expect Progress Software (PRGS) to post quarterly earnings of $1.30 per share in its upcoming report, which indicates a year-over-year increase of 3.2%. Revenues are expected to be $240.35 million, up 34.5% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Progress Software metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Software licenses' should arrive at $65.52 million. The estimate indicates a year-over-year change of +13.3%.
The average prediction of analysts places 'Revenue- Maintenance' at $107.45 million. The estimate points to a change of +4.2% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- Maintenance and services (Maintenance, SaaS and professional services)' reaching $174.20 million. The estimate suggests a change of +44.2% year over year.
View all Key Company Metrics for Progress Software here>>>
Shares of Progress Software have demonstrated returns of -9.7% over the past month compared to the Zacks S&P 500 composite's +3.1% change. With a Zacks Rank #3 (Hold), PRGS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Progress Software Corporation (PRGS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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