Roper Technologies Posts Mixed Q3 Results

Diversified technology company Roper Technologies, Inc. (ROP) has reported mixed results for the quarter ended September 30, 2021. Following the news, shares of the company gained 1.3% to close at $487.20 on Friday.

Quarterly net revenues rose 22.1% year-over-year to $1.46 billion but missed the Street’s estimate of $1.61 billion. Revenues from Application Software segment grew 34.7% year-over-year and accounted for about 41.2% of the total net revenues.

The company reported quarterly earnings of $3.91 per share, up 23% from the year-ago period. Moreover, the figure surpassed the consensus estimate of $3.83 per share.

Notably, the company also provided guidance for the year 2021. It expects EPS to be between $15.26 per share and $15.30 per share for the year, as compared to the consensus estimate of $15.20 per share.

The CEO of Roper Technologies, Neil Hunn, said, “Operationally, Roper delivered another excellent quarter of performance. Organic revenue growth was 12% and was underpinned by continued solid increases in software recurring revenue. In addition, demand was strong across our portfolio and our product businesses executed well through the global supply chain challenges.” (See Roper Technologies stock chart on TipRanks)

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Recently, Raymond James analyst Brian Gesuale reiterated a Buy rating on the stock with a price target of $550, which implies upside potential of 12.9% from current levels.

The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 6 Buys, 1 Hold and 1 Sell. The average Roper Technologies price target of $520.13 implies that the stock has upside potential of 6.8% from current levels.

Roper Technologies scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 16.6% over the past year.