PRGS
I brought some PRGS Today on the solid earnings report, though the market disagrees with me. So I brought roughly 30% more of PRGS At $42.29. It now become a decent size position about 3% of my portfolio.
Anyways lets talk about the quarter.
The company blew out there own guidance again which is the usual set the bar low and than blow it away. More on that later. Earnings of .92 versus guidance of .73-.75. So they do beat the earnings consistent by wide margins, due to there very, very conservative guidance. Keep in Mind this time last year they gave guidance of $3.22-3.28 and it was actually $3.87.
So Now they give very conservative guidance of $3.95-4.05, which was below analysts estimates of $4.12, probably why the stock is down, but I believe they will probably be closer to $4.50 when this fy is over. So we are getting a growing Software stock at no worse than 10.5 time right now (The estimates given), I personally think we are getting it under a pe of 10. To get a growing software company a PE under 10 is absurdly low, I will continue to buy on weakness, as this is one of my favorite ideas as I fully expect the stock to trade at some point in 2022 in the mid 60's, so one of my better ideas right now. All is just my opinion, and I could always be wrong though.
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