PROS (NYSE:PRO) Shares Gap Up – Time to Buy?

PROS Holdings, Inc. (NYSE:PRO) gapped up prior to trading on Wednesday . The stock had previously closed at $22.35, but opened at $23.04. PROS shares last traded at $24.17, with a volume of 56,662 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRO. Robert W. Baird lowered their target price on PROS from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Northland Securities reissued an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Bank of America lowered their target price on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Craig Hallum raised 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. Finally, Oppenheimer lowered their target price on PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROS has a consensus rating of “Buy” and an average target price of $31.63.

PROS Stock Performance

The company has a 50-day moving average price of $20.56 and a 200-day moving average price of $22.71. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -39.00 and a beta of 1.20.

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, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. On average, research analysts expect that PROS Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of PROS

A number of large investors have recently made changes to their positions in PRO. Price T Rowe Associates Inc. MD lifted its position in PROS by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,167 shares of the software maker’s stock worth $1,096,000 after acquiring an additional 1,632 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in PROS during the 2nd quarter worth approximately $210,000. Assenagon Asset Management S.A. lifted its position in PROS by 9.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 131,198 shares of the software maker’s stock worth $3,759,000 after acquiring an additional 11,594 shares during the period. Raymond James & Associates lifted its position in PROS by 14.8% during the 2nd quarter. Raymond James & Associates now owns 138,159 shares of the software maker’s stock worth $3,958,000 after acquiring an additional 17,792 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of PROS during the 2nd quarter worth approximately $251,000. 94.27% of the stock is 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.