PROS (NYSE:PRO) Updates Q3 2024 Earnings Guidance

PROS (NYSE:PRO) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus estimate of 0.070. The company issued revenue guidance of $81.5 million-$82.5 million, compared to the consensus revenue estimate of $85.1 million. PROS also updated its FY 2024 guidance to EPS.

PROS Stock Down 3.9 %

NYSE PRO traded down $0.91 on Friday, reaching $22.65. The company had a trading volume of 848,053 shares, compared to its average volume of 361,054. PROS has a 52-week low of $21.88 and a 52-week high of $40.99. The stock has a market capitalization of $1.07 billion, a P/E ratio of -21.57 and a beta of 1.21. The company’s fifty day moving average is $26.89 and its 200 day moving average is $32.00.

PROS (NYSE:PRO) last announced its quarterly earnings data on Tuesday, May 7th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $80.69 million during the quarter, compared to the consensus estimate of $79.84 million. During the same quarter last year, the company earned ($0.28) EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts expect that PROS will post -0.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRO shares. KeyCorp cut their price target on PROS from $43.00 to $36.00 and set an overweight rating for the company in a report on Wednesday. Needham & Company LLC reissued a buy rating and issued a $40.00 price target on shares of PROS in a research note on Wednesday. Robert W. Baird lowered their price objective on shares of PROS from $45.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price target on PROS from $40.00 to $32.00 and set a buy rating for the company in a research note on Wednesday. Finally, Oppenheimer cut their price objective on PROS from $42.00 to $31.00 and set an outperform rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PROS currently has a consensus rating of Moderate Buy and a consensus price target of $34.17.

Insider Buying and Selling

In other news, Director Leland Jourdan sold 2,162 shares of PROS stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total transaction of $67,086.86. Following the transaction, the director now directly owns 13,313 shares of the company’s stock, valued at approximately $413,102.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PROS news, Director Leland Jourdan sold 2,162 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total transaction of $67,086.86. Following the sale, the director now directly owns 13,313 shares of the company’s stock, valued at $413,102.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stefan B. Schulz sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total value of $186,180.00. Following the completion of the transaction, the chief financial officer now directly owns 258,327 shares of the company’s stock, valued at approximately $8,015,886.81. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

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.