Progress Software Corp reports results for the quarter ended May 31 - Earnings Summary

• Progress Software Corp NASDAQ:PRGS reported quarterly adjusted earnings of $1.62​​ per share for the quarter ended May 31, higher than the same quarter last year, when the company reported EPS of $1.40. The mean expectation of six analysts for the quarter was for earnings of $1.49 per share. Wall Street expected results to range from $1.47 to $1.50 per share.

• Revenue rose 6.8% to $253.47 million from a year ago; analysts expected $242.74 million.

• Progress Software Corp's reported EPS for the quarter was 50 cents​.

• The company reported quarterly net income of $21.07 million.

• Progress Software Corp shares had risen by 31.9% this quarter and lost 21.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts was unchanged in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the software peer group is "buy."

• Wall Street's median 12-month price target for Progress Software Corp is $46.00, about 26.4% above its last closing price of $33.84

This summary was machine generated from LSEG data June 30 at 09:01 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 )