Progress Software Corp announces results for the quarter ended January

• Progress Software company PRGS reported quarterly adjusted earnings per share of $1.09 for the quarter ended in January, higher than the same quarter last year, when the company reported EPS of $1.06. The average expectation of seven analysts for the quarter was for earnings of 95 cents per share. Wall Street expected earnings of 95 to 96 cents per share.

• Revenue decreased 2.3% to $175.08 million from the prior year; analysts expected $168.42 million.

• Progress Software Corp’s reported EPS for the quarter was 37 cents.

• The company reported a quarterly net profit of $16.19 million.

• Progress Software Corp shares are down 8.1% this quarter and have lost 9.8% so far this year.

FORECASTS OF CHANGE

• Average analyst earnings estimates have declined by approximately 10% over the past three months.​

• Analysts covering the company have not revised their earnings estimates over the last 30 days.

RECOMMENDATIONS

• The current average analyst rating for the stock is “buy”, with recommendations divided into 5 “strong buy” or “buy”, 2 “hold” and none “sell” or “strong sell”.

• The average consensus rating for the software peer group is also “buy”

Progress Software Corp’s 12-month average price target on Wall Street is $64.50

This summary was machine-generated from LSEG data on June 25 at 21:52 UTC. All figures are in US dollars unless otherwise noted. (If you have any questions about the data in this report, please contact us at [email protected]. For any other questions or feedback, please contact us at [email protected])