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

PROS (NYSE:PRO) had its price objective cut by Needham & Company LLC from $40.00 to $30.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on PROS from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird dropped their price objective on shares of PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp cut their price objective on shares of PROS from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer decreased their target price on shares of PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Craig Hallum raised PROS from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.63.

PROS Price Performance

PROS stock opened at $20.95 on Wednesday. PROS has a 12 month low of $16.64 and a 12 month high of $40.99. The company has a fifty day moving average price of $18.60 and a two-hundred day moving average price of $24.34. The company has a market cap of $991.14 million, a PE ratio of -33.82 and a beta of 1.21.

PROS (NYSE:PRO) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. Equities research analysts anticipate that PROS will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On PROS

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in PROS during the second quarter worth approximately $29,000. Quarry LP acquired a new position in shares of PROS in the 2nd quarter worth $38,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PROS by 27.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock valued at $206,000 after purchasing an additional 2,393 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock valued at $210,000 after purchasing an additional 484 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in PROS in the 2nd quarter worth about $210,000. Institutional investors and hedge funds own 94.27% of the company’s stock.

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.