PROS’s (PRO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of PROS (NYSE:PRO) in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price objective on the software maker’s stock.

Other analysts have also recently issued reports about the company. Bank of America lowered their price objective on PROS from $43.00 to $39.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Oppenheimer lowered their price target on shares of PROS from $42.00 to $31.00 and set an outperform rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on shares of PROS from $40.00 to $32.00 and set a buy rating for the company in a report on Wednesday, July 31st. Craig Hallum decreased their target price on shares of PROS from $32.00 to $31.00 and set a hold rating on the stock in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of PROS from a hold rating to a buy rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, PROS currently has an average rating of Moderate Buy and a consensus price target of $34.86.

PROS Price Performance

Shares of PROS stock opened at $16.99 on Monday. The firm has a fifty day moving average price of $21.60 and a two-hundred day moving average price of $28.72. PROS has a fifty-two week low of $16.64 and a fifty-two week high of $40.99. The company has a market cap of $798.60 million, a PE ratio of -16.18 and a beta of 1.20.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $82.01 million during the quarter, compared to the consensus estimate of $81.38 million. During the same quarter in the previous year, the business posted ($0.24) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that PROS will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROS

A number of hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in PROS by 137.6% in the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock valued at $27,000 after buying an additional 406 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of PROS by 9.1% in the first quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock valued at $210,000 after acquiring an additional 484 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of PROS by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock worth $292,000 after acquiring an additional 632 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PROS by 10.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock worth $289,000 after acquiring an additional 916 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROS during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 94.27% of the company’s stock.

PROS Company Profile

PROS Holdings, Inc provides software solutions that optimize the processes of selling and shopping in the digital economy in Europe, the Asia Pacific, the Middle East, Africa, and internationally. The company offers PROS Smart Configure Price Quote that improves sales productivity and accelerate deal velocity by automating common sales tasks; and PROS Smart Price Optimization and Management, which enables businesses to optimize, personalize, and harmonize pricing.