Oppenheimer Cuts PROS (NYSE:PRO) Price Target to $27.00

PROS (NYSE:PRO) had its price target cut by Oppenheimer from $31.00 to $27.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other research firms have also recently weighed in on PRO. Stifel Nicolaus cut their target price on PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Craig Hallum decreased their price target on PROS from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. KeyCorp reduced their target price on PROS from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of PROS in a research note on Monday, September 9th. Finally, Bank of America cut their price target on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

PROS Price Performance

Shares of PROS stock opened at $18.56 on Thursday. The firm has a market cap of $876.22 million, a price-to-earnings ratio of -20.17 and a beta of 1.21. The stock’s 50-day moving average is $18.51 and its 200-day moving average is $24.81. PROS has a one year low of $16.64 and a one year high of $40.99.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $82.01 million for the quarter, compared to the consensus estimate of $81.38 million. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, equities analysts expect that PROS will post -0.43 EPS for the current year.

Hedge Funds Weigh In On PROS

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in PROS during the second quarter valued at approximately $29,000. Quarry LP purchased a new position in PROS during the second quarter valued at $38,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of PROS by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock worth $206,000 after buying an additional 2,393 shares in the last quarter. Principal Financial Group Inc. grew its stake 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 worth $210,000 after buying an additional 484 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in PROS during the 2nd quarter valued at about $210,000. 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.