Progress Software Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Progress Software Corporation (NASDAQ:PRGS) is anticipated to report lower earnings for Q1 on March 26, 2024, with an expected EPS of $1.14, down from $1.19 year-over-year. Revenue is projected at $181.91 million. The company recently priced a $400 million convertible senior notes offering. Shares dropped 0.8% to $52.48. Analysts from Wedbush, Oppenheimer, Citigroup, Guggenheim, and JP Morgan have provided ratings and price targets, with the most recent being a price target increase from Wedbush to $67.
March 25, 2024 | 11:38 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Progress Software is expected to report lower Q1 earnings with a projected EPS of $1.14 and revenue of $181.91 million. The company's shares fell after announcing a $400 million notes offering. Analysts have updated their ratings and price targets.
The expected decrease in earnings and the recent drop in share price following the notes offering announcement could negatively impact investor sentiment in the short term. Analysts' updated ratings and price targets indicate varying expectations, but the overall anticipation of lower earnings is likely to weigh on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100