Progress Software Corp reports results for the quarter ended November 30 - Earnings Summary

• Progress Software Corp PRGS.OQ reported quarterly adjusted earnings of $1.33​​ per share for the quarter ended November 30, higher than the same quarter last year, when the company reported EPS of $1.02. The mean expectation of seven analysts for the quarter was for earnings of $1.22 per share. Wall Street expected results to range from $1.19 to $1.24 per share.

• Revenue rose 21.5% to $214.96 million from a year ago; analysts expected $211.25 million.

• Progress Software Corp's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $1.15 million.

• Progress Software Corp shares had fallen by 3.4% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.2% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the software peer group is also "buy"

Wall Street's median 12-month price target for Progress Software Corp is $75.00

This summary was machine generated from LSEG data January 21 at 10:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)