PROS (NYSE:PRO) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on the stock PRO (NYSE:PRO – Free Report) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $40.00 price target on the software maker’s stock.

Other research analysts have also issued research reports on the stock. StockNews.com upgraded shares of PROS from a hold rating to a buy rating in a research note on Monday, August 5th. Oppenheimer cut their price objective on PROS from $42.00 to $31.00 and set an outperform rating for the company in a report on Wednesday, July 31st. Bank of America reduced their price objective on PROS from $43.00 to $39.00 and set a buy rating for the company in a research report on Tuesday, August 27th. KeyCorp cut their price target on PROS from $43.00 to $36.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on PROS from $40.00 to $32.00 and set a buy rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PROS presently has an average rating of Moderate Buy and an average price target of $34.86.

Read our latest review on PRO

PROS Stock down 2.3%

PROS stock opened at $17.41 on Monday. The stock has a market cap of $821.93 million, a PE ratio of -16.58 and a beta of 1.21. PROS has a 12 month low of $17.21 and a 12 month high of $40.99. The company has a fifty day simple moving average of $22.00 and a 200 day simple moving average of $28.92.

PROS (NYSE:PRO – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $82.01 million for the quarter, compared to analyst estimates of $81.38 million. The company’s revenue was up 8.2% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of ($0.24). analysts expect that PROS will post -0.43 EPS for the current fiscal year.

Institutional inputs and outputs

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in PROS by 137.6% in the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock valued at $27,000 after purchasing an additional 406 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PROS in the second quarter worth $29,000. Quarry LP purchased a new position in PROS in the second quarter valued at $38,000. Principal Financial Group Inc. raised its holdings in PROS by 9.1% in the first 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 period. Finally, Sequoia Financial Advisors LLC acquired a new position in PROS in the 2nd quarter worth $210,000. 94.27% of shares are owned by institutional investors.

About PROS

(Get a free report)

PROS Holdings, Inc provides software solutions that optimize sales and purchasing processes in the digital economy in Europe, Asia Pacific, the Middle East, Africa and internationally. The company offers PROS Smart Configure Price Quote that improves sales productivity and accelerates transaction speed by automating common sales tasks; and PROS Smart Price Optimization and Management, which enables companies to optimize, customize and harmonize prices.

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