PROS (NYSE:PRO) Shares Gap Up to $17.21

Shares of PROS Holdings, Inc. (NYSE:PRO) gapped up before the market opened on Friday . The stock had previously closed at $17.21, but opened at $17.84. PROS shares last traded at $18.31, with a volume of 43,635 shares trading hands.

Analysts Set New Price Targets

PRO has been the topic of several analyst reports. KeyCorp cut their target price on PROS from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Bank of America dropped their price target on shares of PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Craig Hallum decreased their price objective on shares of PROS from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of PROS in a report on Monday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PROS has an average rating of “Moderate Buy” and a consensus price target of $34.86.

PROS Price Performance

The stock’s 50-day moving average price is $21.40 and its 200 day moving average price is $28.64. The firm has a market capitalization of $839.87 million, a PE ratio of -17.44 and a beta of 1.20.

PROS (NYSE:PRO) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $82.01 million for the quarter, compared to analysts’ expectations of $81.38 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts forecast that PROS Holdings, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in shares of PROS by 137.6% in the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after acquiring an additional 406 shares in the last quarter. 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 purchasing an additional 484 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of PROS by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock valued at $292,000 after buying an additional 632 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PROS by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock valued at $289,000 after buying an additional 916 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PROS in the 2nd quarter worth approximately $29,000. 94.27% of the stock is currently owned by institutional investors.

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.