Earnings Beat: Progress Software Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Earnings Beat: Progress Software Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Progress Software Corporation (NASDAQ:PRGS) investors will be delighted, with the company turning in some strong numbers with its latest results. It was overall a positive result, with revenues beating expectations by 4.0% to hit US$175m. Progress Software also reported a statutory profit of US$0.37, which was an impressive 42% above what the analysts had forecast. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
Progress Software Corporation (納斯達克股票代碼：PRGS) 的投資者將會非常高興，該公司在最新業績中取得了一些強勁的數字。總體而言，這是一個積極的結果，收入超出預期的4.0％，達到了1.75億美元。Progress Software還報告了每股盈利爲0.37美元的法定利潤，這比分析師的預測高出了驚人的42％。分析師通常在每次盈利報告時更新其預測，我們可以從他們的估計判斷公司的看法是否發生變化，或者是否有任何新的問題需要注意。因此，我們收集了最新的盈餘預測，以了解下一年的預測情況。
After the latest results, the seven analysts covering Progress Software are now predicting revenues of US$729.6m in 2024. If met, this would reflect a reasonable 2.5% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to expand 19% to US$2.02. In the lead-up to this report, the analysts had been modelling revenues of US$726.6m and earnings per share (EPS) of US$2.00 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
在最新業績發佈後，涵蓋Progress Software的七位分析師現在預測其將在2024年實現7.296億美元的收入，如果達到預期，則相對於過去12個月來說會有一個2.5％的合理的收入增長。預測法定每股收益將增長19％，達到2.02美元。在發佈此報告之前，分析師曾預計2024年的收入爲7.266億美元，每股收益爲2.00美元。共識分析師似乎沒有看到任何改變他們對業務的看法的結果，考慮到他們的估計沒有發生重大變化。
The analysts reconfirmed their price target of US$62.86, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Progress Software at US$67.00 per share, while the most bearish prices it at US$55.00. This is a very narrow spread of estimates, implying either that Progress Software is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.
分析師重申了每股目標價格62.86美元，表明該業務正在按預期進行且執行良好。觀察分析師預測的範圍也是有益的，以評估極端意見與平均意見的差異。目前，最看好的分析師認爲進展軟件股票的價值爲每股67.00美元，而最看淡的分析師則將其價格定爲55.00美元。這是非常狹窄的預測幅度，暗示Progress Software是一家易於估值的公司，或者更可能是分析師在某些關鍵假設上有很大的依賴。
Of course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that Progress Software's revenue growth is expected to slow, with the forecast 5.1% annualised growth rate until the end of 2024 being well below the historical 13% p.a. growth over the last five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 12% annually. Factoring in the forecast slowdown in growth, it seems obvious that Progress Software is also expected to grow slower than other industry participants.
當然，查看這些預測的另一種方法是將它們放入行業背景中進行比較。我們需要注意的是，Progress Software的收入增長預期將放緩，2024年到期的年化增長率預計爲5.1％，遠低於過去五年的歷史增長率13％。將其與其他行業中的公司（具有分析師預測）進行比較，這些公司的預計年收入增長率總計爲12％。考慮到增長預期的放緩，Progress Software似乎也將比其他行業參與者增長緩慢。
The Bottom Line
最重要的事情是分析師增加了它對下一年每股虧損的估計。令人欣慰的是，營收預測未發生重大變化，業務仍有望比整個行業增長更快。共識價格目標穩定在28.50美元，最新估計不足以對價格目標產生影響。
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
最重要的是，情緒沒有發生重大變化，分析師重申了其先前每股盈利估計的業績表現良好的看法。好的一面是，收入預測沒有發生重大變化，儘管預計其表現將不如更廣泛的行業。共識目標價格沒有真正變化，這表明業務的內在價值沒有經歷任何重大變化。
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Progress Software going out to 2026, and you can see them free on our platform here.
接下來的想法是，我們認爲業務的長期前景比明年的收益更相關。我們對進展軟件截至2026年的預測，可以在平台上免費查看。此外，您還應了解我們發現的2個警告信號：Progress Software。
Plus, you should also learn about the 2 warning signs we've spotted with Progress Software .
此外，您還應該了解我們發現的2個警告信號：Progress Software。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。