PROS (NYSE:PRO) Shares Gap Down – What’s Next?

PROS Holdings, Inc. (NYSE:PRO) gapped down before the market opened on Thursday . The stock had previously closed at $22.25, but opened at $21.73. PROS shares last traded at $21.79, with a volume of 29,488 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRO. Needham & Company LLC cut their price target on shares of PROS from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. StockNews.com raised shares of PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. KeyCorp cut their price target on shares of PROS from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of PROS in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.88.

PROS Stock Down 2.1 %

The stock’s fifty day simple moving average is $22.95 and its 200-day simple moving average is $21.41. The company has a market capitalization of $1.03 billion, a PE ratio of -35.14 and a beta of 1.21.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PROS in the 2nd quarter worth approximately $29,000. Quarry LP purchased a new stake in PROS in the 2nd quarter worth approximately $38,000. Intech Investment Management LLC purchased a new stake in PROS in the 3rd quarter worth approximately $204,000. Hennion & Walsh Asset Management Inc. grew its stake in 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 acquiring an additional 2,393 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in PROS by 29.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,917 shares of the software maker’s stock worth $221,000 after acquiring an additional 2,700 shares during the period. 94.27% of the stock is owned by hedge funds and other 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.