Needham & Company LLC Reaffirms “Buy” Rating for PROS (NYSE:PRO)

PROS (NYSE:PRO)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $25.00 target price on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 30.96% from the stock’s previous close.

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

PROS Stock Performance

NYSE PRO opened at $19.09 on Thursday. The firm has a market cap of $913.49 million, a price-to-earnings ratio of -43.39 and a beta of 1.03. The firm has a 50 day simple moving average of $17.30 and a 200-day simple moving average of $21.13. PROS has a one year low of $14.81 and a one year high of $29.84.

PROS (NYSE:PRO) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $86.32 million during the quarter, compared to analysts’ expectations of $85.69 million. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Equities analysts predict that PROS will post -0.2 EPS for the current fiscal year.

Institutional Trading of PROS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRO. Stephens Inc. AR raised its stake in PROS by 14.1% during the 4th quarter. Stephens Inc. AR now owns 12,616 shares of the software maker’s stock worth $277,000 after acquiring an additional 1,556 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of PROS by 18.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 263,193 shares of the software maker’s stock worth $5,780,000 after purchasing an additional 41,111 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of PROS by 6.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,706 shares of the software maker’s stock worth $872,000 after purchasing an additional 2,254 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of PROS in the 4th quarter valued at about $497,000. Finally, Oppenheimer Asset Management Inc. grew its stake in PROS by 17.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 13,940 shares of the software maker’s stock worth $306,000 after buying an additional 2,023 shares during the last quarter. 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.