Bank of America Cuts PROS (NYSE:PRO) Price Target to $39.00

PROS (NYSE:PRO) had its target price cut by equities research analysts at Bank of America from $43.00 to $39.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Bank of America‘s price target indicates a potential upside of 104.62% from the stock’s current price.

Several other brokerages have also commented on PRO. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of PROS 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. KeyCorp decreased their price objective on shares of PROS from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Craig Hallum lowered their price objective on shares of PROS from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut their target price on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

PROS Price Performance

PRO opened at $19.06 on Tuesday. PROS has a 12 month low of $18.66 and a 12 month high of $40.99. The stock has a market capitalization of $895.90 million, a P/E ratio of -18.15 and a beta of 1.21. The business has a 50 day simple moving average of $23.51 and a 200-day simple moving average of $29.92.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $82.01 million during the quarter, compared to analyst estimates of $81.38 million. PROS’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted ($0.24) EPS. Research analysts anticipate that PROS will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Truist Financial Corp acquired a new stake in shares of PROS during the second quarter worth $365,000. Quarry LP purchased a new position in PROS during the second quarter worth about $38,000. Susquehanna Fundamental Investments LLC boosted its stake in PROS by 432.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 45,292 shares of the software maker’s stock worth $1,298,000 after buying an additional 36,792 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in PROS by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,456 shares of the software maker’s stock valued at $672,000 after buying an additional 1,646 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PROS in the 2nd quarter valued at about $29,000. 94.27% of the stock is currently 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.