StockNews.com Upgrades PROS (NYSE:PRO) to “Buy”

PROS (NYSE:PRO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently issued reports on the company. Bank of America decreased their price objective on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Stifel Nicolaus lowered their price target on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Craig Hallum raised shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, October 30th. Northland Securities reaffirmed an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Finally, Needham & Company LLC lowered their target price on shares of PROS from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $31.63.

PROS Trading Down 2.6 %

Shares of PRO opened at $22.74 on Friday. PROS has a 1-year low of $16.64 and a 1-year high of $40.99. The firm’s 50-day moving average price is $19.32 and its 200-day moving average price is $23.43. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -36.68 and a beta of 1.20.

PROS (NYSE:PRO) last posted its quarterly earnings data 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 firm had revenue of $82.70 million for the quarter, compared to the consensus estimate of $82.32 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that PROS will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On PROS

A number of institutional investors have recently made changes to their positions in PRO. Barclays PLC raised its holdings in PROS by 345.4% in the 3rd quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock worth $4,415,000 after acquiring an additional 184,856 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of PROS in the 3rd quarter worth $694,000. K2 Principal Fund L.P. raised its stake in shares of PROS by 29.5% in the third quarter. K2 Principal Fund L.P. now owns 68,000 shares of the software maker’s stock worth $1,259,000 after purchasing an additional 15,482 shares during the last quarter. XTX Topco Ltd bought a new position in shares of PROS during the third quarter valued at $571,000. Finally, Tensile Capital Management LP boosted its position in shares of PROS by 373.4% during the third quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker’s stock valued at $21,507,000 after buying an additional 915,990 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.