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The company recently provided an upbeat view for the to-be-reported quarter. Both non-GAAP revenues and earnings are expected to be within or above the guidance provided on Sep 27, 2022.
Progress Software anticipates revenues of $158-$166 million. Non-GAAP earnings are anticipated between $1.06 and $1.10 per share.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been unchanged at $1.09 per share over the past 30 days, suggesting 18.5% growth from the figure reported in the year-ago quarter.
Progress Software’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 12.75% on average.
Progress Software Corporation Price and EPS Surprise
Progress Software has been benefiting from a strong portfolio, with a robust adoption rate for its Chef, OpenEdge, DataDirect and Sitefinity solutions. In the fiscal third quarter, the net dollar retention rate was 101.4%.
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 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:
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Progress Software (PRGS) to Post Q4 Earnings: What's in Store?
Progress Software (PRGS - Free Report) is slated to release its fourth-quarter fiscal 2022 results on Jan 17.
The company recently provided an upbeat view for the to-be-reported quarter. Both non-GAAP revenues and earnings are expected to be within or above the guidance provided on Sep 27, 2022.
Progress Software anticipates revenues of $158-$166 million. Non-GAAP earnings are anticipated between $1.06 and $1.10 per share.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been unchanged at $1.09 per share over the past 30 days, suggesting 18.5% growth from the figure reported in the year-ago quarter.
Progress Software’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 12.75% on average.
Progress Software Corporation Price and EPS Surprise
Progress Software Corporation price-eps-surprise | Progress Software Corporation Quote
Progress Software has been benefiting from a strong portfolio, with a robust adoption rate for its Chef, OpenEdge, DataDirect and Sitefinity solutions. In the fiscal third quarter, the net dollar retention rate was 101.4%.
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 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:
CACI International (CACI - Free Report) has an Earnings ESP of +1.90% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CACI shares have moved up 6.4% in the past year. CACI is set to report second-quarter fiscal 2023 results on Jan 25.
Lam Research (LRCX - Free Report) currently has an Earnings ESP of +0.42% and a Zacks Rank #3.
LRCX shares have declined 31.5% in the past year. Lam Research is set to report its second-quarter fiscal 2023 results on Jan 25.
AT&T (T - Free Report) currently has an Earnings ESP of +0.55% and a Zacks Rank #3.
T shares have moved down 27.5% in the past year. AT&T is set to report its fourth-quarter 2022 results on Jan 25.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.