Is anybody looking at PRGS upcoming earnings after market close on Mon 29th of September?
PRGS Progress software has upcoming earnings on Monday 29th of September after market close, I think the stock has been beaten down.
It appears that expectations are very low going into earnings due to huge selloff since last earnings which I dont think were as terrible as market perceived. The stock has sold off even more after earnings and drifted lower. I believe it creates a good asymetrical setup if earnings are ok. I dont think PRGS needs to do much to bounce at least a bit.
I think there are a few underappreciated points:
* Nuclia AI Integration, could be more impactful than markets assume
* MDB, ORCL, ESTC some of the peers had positive reaction after earnins
* In the past 3 months I am seeing more insider buys than sales
* Stable demand signals
* AI investments: Nuclia, MarkLogic 12, AI coding assistants, Federal Solutions unit launched, the question is which investors are probably asking will it translate into meaningful growth?
Likely it needs to show an acceleration of organic ARR growth for the stock to move up meaningfully