Progress Software program (PRGS) closed at $52.69 within the newest buying and selling session, marking a +0.46% transfer from the prior day. The inventory outpaced the S&P 500’s each day lack of 0.16%. In the meantime, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.09%.
Previous to right now’s buying and selling, shares of the enterprise software program maker had gained 2.78% over the previous month. This has outpaced the Laptop and Know-how sector’s achieve of 1.27% and the S&P 500’s achieve of 1.83% in that point.
Progress Software program will likely be trying to show energy because it nears its subsequent earnings launch. On that day, Progress Software program is projected to report earnings of $1.09 per share, which might signify year-over-year progress of 18.48%. Our most up-to-date consensus estimate is looking for quarterly income of $161.62 million, up 12.44% from the year-ago interval.
Trying on the full 12 months, our Zacks Consensus Estimates counsel analysts predict earnings of $4.10 per share and income of $613.06 million. These totals would mark adjustments of +5.94% and +10%, respectively, from final 12 months.
Buyers may also discover latest adjustments to analyst estimates for Progress Software program. These latest revisions are likely to mirror the evolving nature of short-term enterprise traits. As such, constructive estimate revisions mirror analyst optimism concerning the firm’s enterprise and profitability.
Our analysis reveals that these estimate adjustments are instantly correlated with near-term inventory costs. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate adjustments into consideration and delivers a transparent, actionable ranking mannequin.
The Zacks Rank system, which ranges from #1 (Robust Purchase) to #5 (Robust Promote), has a formidable outside-audited monitor report of outperformance, with #1 shares producing a median annual return of +25% since 1988. Over the previous month, the Zacks Consensus EPS estimate remained stagnant. Progress Software program is holding a Zacks Rank of #3 (Maintain) proper now.
Valuation can also be vital, so buyers ought to notice that Progress Software program has a Ahead P/E ratio of 12.79 proper now. For comparability, its business has a median Ahead P/E of 24.79, which implies Progress Software program is buying and selling at a reduction to the group.
It is usually price noting that PRGS presently has a PEG ratio of 6.4. This common metric is just like the widely-known P/E ratio, with the distinction being that the PEG ratio additionally takes into consideration the corporate’s anticipated earnings progress fee. Laptop – Software program shares are, on common, holding a PEG ratio of two.16 based mostly on yesterday’s closing costs.
The Laptop – Software program business is a part of the Laptop and Know-how sector. This group has a Zacks Business Rank of 127, placing it within the high 50% of all 250+ industries.
The Zacks Business Rank gauges the energy of our particular person business teams by measuring the common Zacks Rank of the person shares throughout the teams. Our analysis reveals that the highest 50% rated industries outperform the underside half by an element of two to 1.
To observe PRGS within the coming buying and selling periods, you should definitely make the most of Zacks.com.
Need the most recent suggestions from Zacks Funding Analysis? Right this moment, you’ll be able to obtain the 7 Greatest Shares for the Subsequent 30 Days. Click on to get this free report
Progress Software program Company (PRGS) : Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis