PROS (NYSE:PRO) Price Target Lowered to $30.00 at Needham & Company LLC

PROS (NYSE:PRO) had its price objective reduced by Needham & Company LLC from $40.00 to $30.00 in a research note released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Several other research analysts also recently weighed in on the company. 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 note on Tuesday, August 27th. Stifel Nicolaus dropped their target price on PROS from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday. Craig Hallum upgraded PROS from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday. Finally, Oppenheimer dropped their price target on PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One research 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.com, PROS has a consensus rating of “Moderate Buy” and an average price target of $31.63.

PROS Trading Up 5.8 %

Shares of NYSE:PRO opened at $20.95 on Wednesday. PROS has a 12-month low of $16.64 and a 12-month high of $40.99. The business’s fifty day simple moving average is $18.60 and its 200-day simple moving average is $24.34. The company has a market capitalization of $991.14 million, a PE ratio of -33.79 and a beta of 1.20.

PROS (NYSE:PRO) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $82.32 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that PROS will post -0.43 EPS for the current year.

Hedge Funds Weigh In On PROS

Several institutional investors and hedge funds have recently modified their holdings of PRO. Fred Alger Management LLC lifted its holdings in shares of PROS by 14.7% in the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock valued at $83,633,000 after buying an additional 373,982 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of PROS by 218.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock valued at $7,742,000 after buying an additional 286,825 shares during the period. Kopion Asset Management LLC lifted its holdings in shares of PROS by 60.0% in the 3rd quarter. Kopion Asset Management LLC now owns 461,695 shares of the software maker’s stock valued at $8,551,000 after buying an additional 173,168 shares during the period. RGM Capital LLC lifted its holdings in shares of PROS by 5.9% in the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock valued at $85,339,000 after buying an additional 166,301 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of PROS by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock valued at $178,367,000 after buying an additional 144,729 shares during the period. Institutional investors and hedge funds 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.