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.
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