PROS (NYSE:PRO) Shares Gap Up – Should You Buy?

PROS Holdings, Inc. (NYSE:PRO) gapped up prior to trading on Wednesday . The stock had previously closed at $22.35, but opened at $23.04. PROS shares last traded at $24.17, with a volume of 56,662 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on PRO. Northland Securities reaffirmed an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Bank of America lowered their target price on PROS from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Oppenheimer lowered their target price on PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, KeyCorp lowered their target price on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $31.63.

PROS Stock Up 13.2 %

The company has a 50-day moving average price of $20.56 and a 200-day moving average price of $22.71. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -39.00 and a beta of 1.20.

PROS (NYSE:PRO) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.32 million. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, analysts forecast that PROS Holdings, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On PROS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in PROS during the second quarter worth approximately $29,000. Quarry LP bought a new stake in PROS during the second quarter worth approximately $38,000. Intech Investment Management LLC bought a new stake in PROS during the third quarter worth approximately $204,000. Hennion & Walsh Asset Management Inc. raised its holdings 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 worth $206,000 after purchasing an additional 2,393 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in PROS during the second quarter worth approximately $210,000. Institutional investors own 94.27% of the company’s stock.

About PROS

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.