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

Needham & Company LLC restated their buy rating on shares of PROS (NYSE:PRO) in a report published on Monday, Benzinga reports. Needham & Company LLC currently has a $40.00 price target on the software maker’s stock.

A number of other brokerages have also recently commented on PRO. Craig Hallum dropped their price target on shares of PROS from $32.00 to $31.00 and set a hold rating on the stock in a research note on Wednesday, July 31st. Bank of America dropped their target price on PROS from $43.00 to $39.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Stifel Nicolaus reduced their price target on PROS from $40.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, July 31st. Robert W. Baird dropped their price objective on PROS from $45.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, July 31st. Finally, Oppenheimer reduced their target price on PROS from $42.00 to $31.00 and set an outperform rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $34.86.

PROS Trading Up 1.2 %

Shares of NYSE PRO opened at $17.21 on Monday. The stock has a fifty day simple moving average of $21.40 and a two-hundred day simple moving average of $28.64. PROS has a 1-year low of $16.64 and a 1-year high of $40.99. The firm has a market cap of $808.94 million, a price-to-earnings ratio of -16.39 and a beta of 1.20.

PROS (NYSE:PRO) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $82.01 million for the quarter, compared to the consensus estimate of $81.38 million. During the same quarter in the previous year, the company posted ($0.24) EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that PROS will post -0.43 EPS for the current year.

Hedge Funds Weigh In On PROS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in shares of PROS by 137.6% during the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after purchasing an additional 406 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PROS in the 2nd quarter worth $29,000. Quarry LP purchased a new stake in shares of PROS during the 2nd quarter valued at $38,000. Principal Financial Group Inc. lifted its holdings in shares of PROS by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after acquiring an additional 484 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in PROS in the second quarter worth $210,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

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.