Send me real-time posts from this site at my email

Progress Software (PRGS) to Report Q1 Earnings: What's in Store?

Progress Software PRGS is set to report first-quarter fiscal 2021 results on Mar 25.

For the quarter, revenues are expected between $119 million and $123 million. Earnings are expected in the 72-76 cents per share range.

The Zacks Consensus Estimate for first-quarter earnings stayed at 75 cents per share over the past 30 days and indicates 1.3% decline from the previous quarter’s reported figure.

The consensus mark for revenues is pegged at $121.8 million, indicating an increase of 7.1% from the previous quarter’s reported figure.


Notably, Progress Software beat the Zacks Consensus Estimate in the past three quarters, missing it in the rest, delivering an earnings surprise of 6.2%, on average.

Let’s see how things have shaped up for this announcement.

Factors to Consider

Progress Software’s fiscal first-quarter results are expected to have benefited from the acquisition of Chef. However, revenues from DataDirect solution are expected to have remained subdued in the to-be-reported quarter.

Nevertheless, Progress Software’s strong partner base has been a key catalyst. Its partnership with Ingram Micro has expanded its footprint into the Iberian Peninsula, including Spain and Portugal, as well as in the United Kingdom and the Middle East.

Moreover, expanding portfolio is expected to have driven top-line growth. Availability of latest versions of Progress Telerik and Kendo UI solutions is likely to have driven the top line. The company also launched AWS Quick Start for Progress OpenEdge.

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 (Hold). 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:

Akamai AKAM has an Earnings ESP of +1.38% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Sequans Communications SQNS has an Earnings ESP of +16.18% and is #3 Ranked.

Twitter TWTR has an Earnings ESP of +26.39% and is Zacks #3 Ranked.


The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Akamai Technologies, Inc. (AKAM): Free Stock Analysis Report
Progress Software Corporation (PRGS): Free Stock Analysis Report
Sequans Communications S.A. (SQNS): Free Stock Analysis Report
Twitter, Inc. (TWTR): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue