Progress Software (PRGS) Beats Q4 Earnings and Revenue Estimates

Group 1 - Progress Software reported quarterly earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.21 per share, and up from $1.02 per share a year ago, representing an earnings surprise of 9.92% [1] - The company achieved revenues of $214.96 million for the quarter ended November 2024, surpassing the Zacks Consensus Estimate by 1.71%, and an increase from $177.52 million year-over-year [2] - Progress Software has consistently surpassed consensus EPS and revenue estimates over the last four quarters [2] Group 2 - The stock has underperformed the market, losing about 3.4% since the beginning of the year compared to the S&P 500's gain of 2% [3] - The current consensus EPS estimate for the upcoming quarter is $1.44 on revenues of $230.22 million, and for the current fiscal year, it is $5.67 on revenues of $929 million [7] - The Zacks Industry Rank for Computer - Software is in the bottom 38% of over 250 Zacks industries, indicating potential challenges for stock performance [8] Group 3 - The estimate revisions trend for Progress Software is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6] - Future stock movements will largely depend on management's commentary during the earnings call and any changes in earnings expectations [3][4]