We spent the week digesting the first major wave of Q1 ’20 software earnings, although much of what we observed was consistent with commentary from those that have already pre-announced. Business momentum was strong for most through January and February, but March brought a spate of challenges as organizations prioritized the transition of their employees to work-from-home amid the COVID-19 pandemic.
Read MoreIn a week where advising against the ingestion or injection of disinfectants became a necessary PSA, there was some semblance of normalcy given a smattering of M&A and other capital markets activity, as well as the start of another earnings season in the software space.
Read MoreCTG, Inc. (CTG) reported Q1 ’20 results in line with management’s guidance and considerably better than our estimates. Recall that we reduced our Q1 and Q2 projections on March 31, 2020 to reflect the potential impact of COVID-19.
Read MoreA month after the initial rollout of measures to reduce the spread of coronavirus across the U.S., the economic toll continues to climb with another 5.2 million unemployment claims filed. Even so, the software industry has fared reasonably well considering the circumstances with the group exhibiting gains on average for the second consecutive week.
Read MoreCTG, Inc. (CTG) reports Q1 ’20 results on Tuesday, April 21. As discussed in our recent note, “Reducing Estimates and Price Target to Reflect Potential Impact of COVID-19,” we expect measures enacted across the globe to limit the spread of coronavirus to weigh on CTG’s IT Staffing business.
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