KeyCorp Issues Pessimistic Forecast for PROS (NYSE:PRO) Stock Price

PROS (NYSE:PRO) had its price target cut by KeyCorp from $36.00 to $28.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

PRO has been the topic of a number of other reports. Robert W. Baird reduced their target price on shares of PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday. Craig Hallum upgraded PROS from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday. Oppenheimer lowered their target price on PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America decreased their price objective on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PROS presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.63.

PROS Stock Up 7.6 %

PRO stock opened at $20.86 on Wednesday. PROS has a twelve month low of $16.64 and a twelve month high of $40.99. The firm has a market cap of $984.80 million, a price-to-earnings ratio of -22.67 and a beta of 1.21. The business’s fifty day simple moving average is $18.54 and its two-hundred day simple moving average is $24.47.

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

Institutional Investors Weigh In On PROS

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PROS during the second quarter valued at about $29,000. Quarry LP bought a new position in shares of PROS during the 2nd quarter worth approximately $38,000. Hennion & Walsh Asset Management Inc. lifted its position in PROS by 27.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock valued at $206,000 after acquiring an additional 2,393 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in PROS in the second quarter worth $210,000. Institutional investors 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.