PRGS
is integrating an acquisition so that is part of it. Secondly I think peg ratio is one of the most flawed analysis, because it get overly excited when a company is growing faster than historical norms and think the end is near when it is not. I also think they are doing there usual conservatism and they in reality will earn about $5.30-5.50. Keep in mind they earned about $4.35 last year and only guided for $4.58-4.68 (4.63). Eventually we got $4.93. So they have a tendency to raise numbers and generally are always conservative coming out of the q4 numbers so they can raise number a bit over the course of the year. Not saying they are a fast grower, I think they will average eps growth around 8-12% annualized, I think that is worthy of a minmum of a 15 pe in a software space that gets absurd pe's. We will see. I think there tendency management is to under promise so they can over deliver generally. Could I be completely wrong as you never know with earnings, of course. But I think earnings will be around $5.30-5.50 this year, and close to $6 next year, call me nuts to think that is worth more than the absurdly low PE it is getting for it's space. All is just my opinion, and I could always be wrong though.
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