Needham & Company LLC Reiterates Buy Rating for PROS (NYSE:PRO)

Needham & Company LLC reaffirmed their buy rating on shares of PROS (NYSE:PRO) in a report published on Thursday morning,Benzinga reports. They currently have a $25.00 target price on the software maker’s stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut PROS from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 7th. KeyCorp reduced their price objective on PROS from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Robert W. Baird reduced their price objective on PROS from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Northland Securities set a $38.00 target price on PROS in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus cut their target price on PROS from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PROS presently has an average rating of “Moderate Buy” and an average price target of $29.13.

PROS Stock Performance

Shares of PRO stock opened at $18.11 on Thursday. The stock’s fifty day moving average is $17.37 and its two-hundred day moving average is $21.09. The firm has a market capitalization of $866.60 million, a P/E ratio of -41.16 and a beta of 1.03. PROS has a fifty-two week low of $14.81 and a fifty-two week high of $29.84.

PROS (NYSE:PRO) last issued its earnings results on Thursday, May 1st. The software maker reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $86.32 million during the quarter, compared to analyst estimates of $85.69 million. PROS’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, equities analysts forecast that PROS will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On PROS

A number of hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in PROS in the fourth quarter valued at about $30,000. Ancora Advisors LLC purchased a new stake in shares of PROS in the 4th quarter valued at approximately $33,000. Quadrant Capital Group LLC raised its stake in shares of PROS by 153.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,530 shares of the software maker’s stock valued at $34,000 after acquiring an additional 926 shares during the period. Comerica Bank raised its stake in shares of PROS by 264.5% in the 4th quarter. Comerica Bank now owns 1,571 shares of the software maker’s stock valued at $34,000 after acquiring an additional 1,140 shares during the period. Finally, GAMMA Investing LLC increased its holdings in PROS by 2,716.9% in the 1st quarter. GAMMA Investing LLC now owns 2,169 shares of the software maker’s stock valued at $41,000 after purchasing an additional 2,092 shares during the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

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.