PROS (NYSE:PRO) Shares Gap Down – What’s Next?

Shares of PROS Holdings, Inc. (NYSE:PRO) gapped down prior to trading on Thursday . The stock had previously closed at $22.25, but opened at $21.73. PROS shares last traded at $21.79, with a volume of 29,488 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on PRO shares. Oppenheimer cut shares of PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday. KeyCorp decreased their price target on shares of PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded shares of PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Robert W. Baird lifted their price target on shares of PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Northland Securities reiterated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of PROS in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

PROS Stock Performance

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -35.14 and a beta of 1.21. The company’s fifty day moving average is $22.95 and its two-hundred day moving average is $21.41.

PROS (NYSE:PRO) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share for the quarter, beating 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 revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, analysts forecast that PROS Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRO. Jacobs Levy Equity Management Inc. purchased a new stake in PROS during the 3rd quarter worth $17,921,000. Tensile Capital Management LP increased its stake in PROS by 373.4% during the 3rd quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker’s stock worth $21,507,000 after buying an additional 915,990 shares during the period. Fred Alger Management LLC increased its stake in PROS by 14.7% during the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock worth $83,633,000 after buying an additional 373,982 shares during the period. Algert Global LLC purchased a new stake in PROS during the 3rd quarter worth $6,713,000. Finally, JPMorgan Chase & Co. increased its position in shares of PROS by 570.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock worth $7,360,000 after purchasing an additional 338,158 shares during the last quarter. Hedge funds and other 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.