Wall Street analysts expect Progress Software (PRGS) to post quarterly earnings of $1.31 per share in its upcoming report, which indicates a year-over-year decline of 1.5%. Revenues are expected to be $252.68 million, up 17.5% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Progress Software metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Software licenses' will reach $59.82 million. The estimate indicates a year-over-year change of -18.5%.
The consensus among analysts is that 'Revenue- Maintenance' will reach $105.12 million. The estimate indicates a change of +2.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Maintenance and services (Maintenance, SaaS and professional services)' should come in at $187.82 million. The estimate points to a change of +32.7% from the year-ago quarter.
View all Key Company Metrics for Progress Software here>>>
Over the past month, Progress Software shares have recorded returns of -2.8% versus the Zacks S&P 500 composite's +2.1% change. Based on its Zacks Rank #3 (Hold), PRGS will likely exhibit a performance that aligns with the overall market in the upcoming period. 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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