PROS (NYSE:PRO) Shares Gap Up – Here’s Why

PROS Holdings, Inc. (NYSE:PRO)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $22.35, but opened at $23.04. PROS shares last traded at $24.17, with a volume of 56,662 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PRO shares. KeyCorp lowered their target price on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised PROS from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Oppenheimer lowered their target price on PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lifted their target price on PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Craig Hallum raised PROS from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $31.88.

PROS Price Performance

The company has a fifty day simple moving average of $20.81 and a two-hundred day simple moving average of $22.74. The company has a market capitalization of $1.17 billion, a P/E ratio of -39.89 and a beta of 1.21.

PROS (NYSE:PRO) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $82.70 million during the quarter, compared to the consensus estimate of $82.32 million. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Equities analysts anticipate that PROS Holdings, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On PROS

A number of institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock worth $289,000 after buying an additional 916 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROS during the second quarter worth about $29,000. Quarry LP acquired a new stake in PROS during the second quarter worth about $38,000. Price T Rowe Associates Inc. MD boosted its holdings in PROS by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,167 shares of the software maker’s stock valued at $1,096,000 after purchasing an additional 1,632 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in PROS by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 23,456 shares of the software maker’s stock valued at $672,000 after purchasing an additional 1,646 shares in the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

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.