Yahoo Finance Progress Software (PRGS) to Post Q4 Earnings: What's in Store?
Progress Software PRGS is slated to release its fourth-quarter fiscal 2023 results on Jan 16, 2024.
For the to-be-reported quarter, the company anticipates non-GAAP revenues in the range of $171-$177 million. Non-GAAP earnings are anticipated between 87 cents and 93 cents per share.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been steady at 91 cents per share over the past 30 days, indicating an 18.75% year-over-year decline.
The consensus mark for revenues is pegged at $174.07 million, indicating 9.36% year-over-year growth.
Progress Software Corporation Price and EPS Surprise
Progress Software Corporation price-eps-surprise | Progress Software Corporation Quote
Progress Software’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 10.74% on average.
Factors to Note
The company has been benefiting from a strong portfolio with a robust adoption rate of its OpenEdge and MarkLogic solutions. In the fiscal third quarter, the net dollar retention rate was more than 100%. The trend is expected to have continued in the to-be-reported quarter.
Progress Software benefits from a strong clientele. Strong contributions from acquisitions like MarkLogic and Kemp are expected to have driven top-line growth in the fiscal fourth quarter.
Meanwhile, Sitefinity Cloud is making jobs easier for marketers, thereby saving marketing costs for clients. These trends are expected to have continued in the to-be-reported quarter, driving top-line growth.
Stringent cost management is expected to have benefited bottom-line growth despite headwinds related to persistent inflation, higher interest rates and a challenging macroeconomic environment.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Progress Software has an Earnings ESP of 0.00% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Amphenol APH has an Earnings ESP of +1.74% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
APH shares have gained 19.2% in the trailing 12-month period. Amphenol is likely to report its fourth-quarter 2023 results on Jan 24.
ASML Holdings ASML has an Earnings ESP of +3.46% and a Zacks Rank #2.
ASML shares have gained 10.1% in the past 12-month period. ASML is likely to report its fourth-quarter 2023 results on Jan 24, 2024.
CACI International CACI has an Earnings ESP of +0.67% and a Zacks Rank #3 at present.
CACI shares have gained 12.4% in the past six-month period. CACI International is likely to report its fourth-quarter 2023 results on Jan 24.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Amphenol Corporation (APH) : Free Stock Analysis Report
ASML Holding N.V. (ASML) : Free Stock Analysis Report
CACI International, Inc. (CACI) : Free Stock Analysis Report
Progress Software Corporation (PRGS) : Free Stock Analysis Report
