Needham & Company LLC Issues Pessimistic Forecast for PROS (NYSE:PRO) Stock Price

PROS (NYSE:PRO) had its price target decreased by research analysts at Needham & Company LLC from $30.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 51.88% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer cut shares of PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price objective on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp raised their target price on PROS from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Robert W. Baird dropped their price objective on shares of PROS from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com raised shares of PROS from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PROS presently has a consensus rating of “Buy” and an average price target of $29.13.

PROS Trading Down 2.3 %

NYSE:PRO opened at $16.46 on Friday. The firm has a market capitalization of $786.74 million, a PE ratio of -37.41 and a beta of 1.04. PROS has a 1 year low of $14.81 and a 1 year high of $33.50. The firm’s fifty day simple moving average is $19.21 and its 200 day simple moving average is $21.75.

PROS (NYSE:PRO) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $86.32 million during the quarter, compared to the consensus estimate of $85.69 million. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, analysts anticipate that PROS will post -0.2 EPS for the current fiscal year.

Insider Transactions at PROS

In related news, CAO Scott William Cook sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $29.84, for a total transaction of $149,200.00. Following the transaction, the chief accounting officer now owns 59,159 shares in the company, valued at $1,765,304.56. This represents a 7.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Trading of PROS

Hedge funds have recently modified their holdings of the stock. CWM LLC lifted its holdings in PROS by 153.6% during the 1st quarter. CWM LLC now owns 7,666 shares of the software maker’s stock worth $146,000 after buying an additional 4,643 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PROS by 2.9% in the first quarter. Envestnet Asset Management Inc. now owns 306,119 shares of the software maker’s stock valued at $5,825,000 after acquiring an additional 8,656 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in PROS in the first quarter worth about $419,000. Assenagon Asset Management S.A. lifted its position in PROS by 16.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 376,366 shares of the software maker’s stock valued at $7,162,000 after purchasing an additional 52,533 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of PROS by 5.5% in the 1st quarter. Rhumbline Advisers now owns 67,009 shares of the software maker’s stock valued at $1,275,000 after purchasing an additional 3,472 shares during the last quarter. 94.27% of the stock is 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.