Stifel Nicolaus Forecasts Strong Price Appreciation for PROS (NYSE:PRO) Stock

PROS (NYSE:PRO) had its price target lifted by Stifel Nicolaus from $26.00 to $30.00 in a research note published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software maker’s stock.

A number of other research firms also recently issued reports on PRO. Northland Securities reiterated an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of PROS in a report on Wednesday, October 30th. Craig Hallum upgraded shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, October 30th. Robert W. Baird upped their price objective on PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of PROS in a research note on Friday. Finally, KeyCorp raised their target price on shares of PROS from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PROS currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

PROS Trading Up 9.8 %

Shares of PRO stock opened at $27.37 on Friday. PROS has a one year low of $16.64 and a one year high of $38.71. The firm has a 50-day moving average of $23.30 and a 200-day moving average of $21.28.

PROS (NYSE:PRO) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.15). On average, sell-side analysts forecast that PROS will post -0.17 EPS for the current year.

Institutional Trading of PROS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of PROS by 570.5% in the third quarter. BNP Paribas Financial Markets now owns 266,132 shares of the software maker’s stock valued at $4,929,000 after purchasing an additional 226,443 shares during the period. Barclays PLC grew its holdings in PROS by 345.4% in the third quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock worth $4,415,000 after purchasing an additional 184,856 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in PROS by 3,489.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 268,362 shares of the software maker’s stock valued at $4,970,000 after buying an additional 260,886 shares in the last quarter. Point72 Asset Management L.P. grew its position in PROS by 262.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 31,638 shares of the software maker’s stock worth $586,000 after purchasing an additional 22,903 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of PROS in the third quarter worth about $17,921,000. 94.27% of the stock is 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.