Yahoo Finance Progress Software (PRGS) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Progress Software (PRGS) closed at $52.85, marking a +0.61% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq gained 0.02%.
Heading into today, shares of the business software maker had gained 5.95% over the past month, outpacing the Computer and Technology sector's gain of 4.63% and lagging the S&P 500's gain of 6.89% in that time.
Wall Street will be looking for positivity from Progress Software as it approaches its next earnings report date. On that day, Progress Software is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 18.48%. Our most recent consensus estimate is calling for quarterly revenue of $161.62 million, up 12.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.10 per share and revenue of $613.06 million. These totals would mark changes of +5.94% and +10%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Progress Software. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Progress Software currently has a Zacks Rank of #3 (Hold).
Investors should also note Progress Software's current valuation metrics, including its Forward P/E ratio of 12.81. For comparison, its industry has an average Forward P/E of 25.11, which means Progress Software is trading at a discount to the group.
Meanwhile, PRGS's PEG ratio is currently 6.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Progress Software Corporation (PRGS) : Free Stock Analysis Report
