Robert W. Baird Lowers PROS (NYSE:PRO) Price Target to $27.00

PROS (NYSE:PRO) had its target price lowered by research analysts at Robert W. Baird from $30.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target suggests a potential upside of 58.92% from the company’s current price.

Other analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of PROS in a research report on Friday, February 7th. Stifel Nicolaus boosted their price target on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp boosted their price target on PROS from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Oppenheimer cut PROS from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.63.

PROS Stock Performance

PRO stock opened at $16.99 on Tuesday. PROS has a fifty-two week low of $14.81 and a fifty-two week high of $37.40. The business’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $21.96. The company has a market capitalization of $812.07 million, a price-to-earnings ratio of -38.61 and a beta of 1.04.

PROS (NYSE:PRO) last posted its earnings results on Thursday, February 6th. The software maker reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). Sell-side analysts forecast that PROS will post -0.2 earnings per share for the current year.

Insider Activity at PROS

In other PROS news, CAO Scott William Cook sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $29.84, for a total transaction of $149,200.00. Following the completion of the sale, the chief accounting officer now directly owns 59,159 shares in the company, valued at approximately $1,765,304.56. The trade was a 7.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PROS

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in PROS by 345.4% during the 3rd quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock valued at $4,415,000 after buying an additional 184,856 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of PROS by 262.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 31,638 shares of the software maker’s stock worth $586,000 after purchasing an additional 22,903 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of PROS by 570.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock worth $7,360,000 after purchasing an additional 338,158 shares in the last quarter. US Bancorp DE increased its stake in shares of PROS by 11.1% in the 4th quarter. US Bancorp DE now owns 18,500 shares of the software maker’s stock worth $406,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of PROS in the 3rd quarter worth $631,000. 94.27% of the stock is currently owned by hedge funds and other 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.