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This story initially appeared on Zacks
Progress Software program (PRGS) got here out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.91 per share a yr in the past. These figures are adjusted for non-recurring objects.
– ZacksThis quarterly report represents an earnings shock of 24.32%. 1 / 4 in the past, it was anticipated that this enterprise software program maker would put up earnings of $0.83 per share when it really produced earnings of $1.18, delivering a shock of 42.17%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
Progress Software program
The sustainability of the inventory’s quick value motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Progress Software program shares have misplaced about 4.9% for the reason that starting of the yr versus the S&P 500’s decline of -2.2%.
What’s Subsequent for Progress Software program?
Whereas Progress Software program has underperformed the market thus far this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Progress Software program: combined. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You possibly can see the entire listing of as we speak’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.89 on $129.7 million in revenues for the approaching quarter and $3.62 on $550.7 million in revenues for the present fiscal yr.
Buyers needs to be conscious of the truth that the outlook for the business can have a cloth influence on the efficiency of the inventory as properly. By way of the Zacks Business Rank, Pc – Software program is presently within the backside 39% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical business, Commvault Techniques (CVLT), has but to report outcomes for the quarter ended December 2021. The outcomes are anticipated to be launched on January 25.
This data-management software program firm is predicted to put up quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +15.8%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
Commvault Techniques’ revenues are anticipated to be $195.28 million, up 3.9% from the year-ago quarter.
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Progress Software program Company (PRGS): Free Inventory Evaluation Report
CommVault Techniques, Inc. (CVLT): Free Inventory Evaluation Report
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