Insights Into Progress Software (PRGS) Q1: Wall Street Projections for Key Metrics

In its upcoming report, Progress Software (PRGS) is predicted by Wall Street analysts to post quarterly earnings of $1.04 per share, reflecting a decline of 16.8% compared to the same period last year. Revenues are forecasted to be $235.85 million, representing a year-over-year increase of 27.7%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.Bearing this in mind, let's now explore the average estimates of specific Progress Software metrics that are commonly monitored and projected by Wall Street analysts.Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $54.18 million. The estimate suggests a change of +191.9% year over year.Analysts forecast 'Revenue- Maintenance' to reach $107.98 million. The estimate indicates a change of +5.8% from the prior-year quarter.It is projected by analysts that the 'Revenue- Maintenance and services' will reach $162.16 million. The estimate points to a change of +34.5% from the year-ago quarter.The average prediction of analysts places 'Revenue- Software licenses' at $73.37 million. The estimate suggests a change of +14.5% year over year.View all Key Company Metrics for Progress Software here>>>Shares of Progress Software have demonstrated returns of -2.7% over the past month compared to the Zacks S&P 500 composite's -2.9% change. With a Zacks Rank #3 (Hold), PRGS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Progress Software Corporation (PRGS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks