PROS (NYSE:PRO) Lowered to “Market Perform” Rating by Oppenheimer

PROS (NYSE:PRO) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

PRO has been the subject of several other research reports. Robert W. Baird raised their price target on shares of PROS from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Craig Hallum raised shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, October 30th. Needham & Company LLC cut their price target on shares of PROS from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. KeyCorp decreased their price target on PROS from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Northland Securities reissued an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.88.

PROS Stock Performance

Shares of NYSE PRO opened at $22.31 on Thursday. The firm has a 50 day moving average price of $22.95 and a two-hundred day moving average price of $21.41. The stock has a market cap of $1.06 billion, a P/E ratio of -35.98 and a beta of 1.21. PROS has a 52-week low of $16.64 and a 52-week high of $38.71.

PROS (NYSE:PRO) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate of $82.32 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that PROS will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of PROS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRO. Jacobs Levy Equity Management Inc. acquired a new stake in PROS in the third quarter valued at approximately $17,921,000. Tensile Capital Management LP lifted its holdings in shares of PROS by 373.4% in the 3rd quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker’s stock worth $21,507,000 after purchasing an additional 915,990 shares in the last quarter. Fred Alger Management LLC grew its position in PROS by 14.7% in the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock valued at $83,633,000 after purchasing an additional 373,982 shares during the period. Algert Global LLC bought a new stake in PROS during the 3rd quarter valued at $6,713,000. Finally, JPMorgan Chase & Co. raised its holdings in PROS by 570.6% during the third quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock worth $7,360,000 after buying an additional 338,158 shares during the last quarter. 94.27% of the stock is owned by institutional investors.

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.