Progress' (PRGS) New WhatsUp Gold 2023.0 Aids IT Operations
Progress Software PRGS recently launched the new version of its IT infrastructure monitoring software, Progress WhatsUp Gold 2023.0. Progress enhances WhatsUp Gold's capabilities to provide better access to network data across the organization, improve NetOps communication and reinforce the value of IT.
The latest WhatsUp Gold version provides organizations with advanced configuration management, configurable NOC views and improved reporting capabilities for better insight into their IT infrastructure.
Modern IT infrastructures are complex networks of various systems, devices, resources, services and applications from multiple vendors. This complexity can lead to IT downtime that businesses cannot afford.
PRGS’ software helps organizations manage this complexity with its powerful, easy-to-use and integrated features that quickly detect and fix network issues. With the latest release, Progress allows administrators to monitor, measure and resolve infrastructure issues and track application performance and network traffic.
Progress Software Corporation Price and Consensus
Progress Software Corporation price-consensus-chart | Progress Software Corporation Quote
Strong Product Portfolio Drives Progress’ Prospects
Progress has been benefiting from a strong portfolio with a robust adoption rate for its Chef, OpenEdge, DataDirect and Loadmaster, MOVEit, Sitefinity and Flowmon products. In first-quarter fiscal 2023, the net retention rate was 102%.
Enterprises have been benefiting from Progress' UI libraries and tools for different types of app development projects, such as academic research, business, everyday use and difficult text.
The acquisition of MarkLogic further strengthened its portfolio. Leveraging MarkLogic’s multi-model NoSQL database along with robust semantic metadata management and AI capabilities, the company helps customers derive significant value from complex data.
Progress anticipates second-quarter fiscal 2023 non-GAAP revenues to be between $168 million and $172 million, indicating a year-over-year rise of 13%. Non-GAAP earnings are expected in the range of 88-92 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $170.31 million, suggesting growth of 12.88% from the year-ago quarter’s reported figure.
The consensus mark for earnings is currently pegged at 90 cents per share, unchanged since the last 30 days.
Zacks Rank & Stocks to Consider
Progress currently has a Zacks Rank #3 (Hold). The stock has gained 12.9% year to date compared with the Zacks Computer – Software industry’s increase of 38.1% over the same time frame.
Some better-ranked stocks worth considering in the same industry are SAP SAP, Salesforce CRM and Blackbaud BLKB, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SAP shares have gained 31% year to date. The long-term earnings growth rate for SAP is projected at 14.91%.
Salesforce shares have gained 60.9% year to date. CRM’s long-term earnings growth rate is projected at 19.25%.
Blackbaud’s shares have gained 19.3% year to date. BLKB’s long-term earnings growth rate is projected at 21.88%.
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