Progress Software (PRGS), to Report Q4 Earnings.
Progress Software PRGS will release its fourth quarter fiscal 2022 results Jan 17.
Recently, the company provided an optimistic outlook for the quarter to be reported. Earnings and non-GAAP revenue are expected to be in line with or exceed the guidance given on Sep 27, 2022.
Progress Software predicts revenue of $158-$166 Million. Non-GAAP earnings are expected to be $1.06 to $0.10 per share.
Over the past 30 days the Zacks Consensus Estimate of fiscal fourth-quarter earnings remained unchanged at $1.09 per shares, which suggests 18.5% growth over the figure reported in 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 Surprising
Progress Software Corporation price-eps – Surprise | Progress Software Corporation Quote
Progress Software is enjoying a strong portfolio that has seen strong adoption rates for its Chef, OpenEdge and DataDirect solutions. The net dollar retention rate for the fiscal third quarter was 101.4%.
What our Model Said
According to the Zacks model, a combination of a positive EarningsESP and a Zacks rank #1 (Strong Buy), #2 (Buy), or #3 (Hold), increases the chances of earnings beating. But that’s not the case here.
Progress Software currently has an Earnings ESP at 0.00% and a Zacks Rank of #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Be Considered
These are some companies to consider. Our model shows that they have the right combination for beating earnings in future releases.
CACI International CACI currently has an EarningsESP of +1.90%, and a Zacks rank #3. You can view the complete list of today’s Zacks #1 Rank stocks here.
CACI shares rose 6.4% over the past year. CACI will report its second quarter fiscal 2023 results Jan 25, 2019.
Lam Research LRCX currently holds an EarningsESP of +0.42%, and a Zacks rank #3.
LRCX shares fell 31.5% over the past year. Lam Research will announce its second quarter fiscal 2023 results Jan 25.
AT&T T currently has an Earnings EESP of +0.55% as well as a Zacks rank #3.
T shares have fallen 27.5% over the past year. AT&T is set to report its fourth-quarter 2022 results on Jan 25.
The Zacks Earnings Calendar will keep you up to date with all the latest earnings announcements.
Get the most recent Zacks Investment Research recommendations. Download 7 Best Stocks in the Next 30 Days Today Click to get this free report
AT&T Inc. (T) : Free Stock Analysis Report
Lam Research Corporation (LRCX) : Free Stock Analysis Report
CACI International, Inc. (CACI) : Free Stock Analysis Report
Progress Software Corporation (PRGS) : Free Stock Analysis Report