KeyCorp Issues Pessimistic Forecast for PROS (NYSE:PRO) Stock Price

PROS (NYSE:PRO) had its target price decreased by investment analysts at KeyCorp from $36.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would indicate a potential upside of 33.65% from the stock’s previous close.

PRO has been the subject of a number of other reports. Oppenheimer lowered their price objective on shares of PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC lowered 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. Robert W. Baird cut their price objective on PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday. Bank of America reduced their price objective on PROS from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $31.63.

PROS Stock Performance

Shares of NYSE PRO traded up $1.57 during trading hours on Wednesday, hitting $20.95. 841,261 shares of the stock were exchanged, compared to its average volume of 454,692. PROS has a 1-year low of $16.64 and a 1-year high of $40.99. The company has a market cap of $989.05 million, a PE ratio of -22.86 and a beta of 1.21. The company’s fifty day simple moving average is $18.51 and its two-hundred day simple moving average is $24.49.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share (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 the consensus estimate of $81.38 million. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. As a group, sell-side analysts expect that PROS will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On PROS

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in PROS in the first quarter valued at $1,291,000. Vanguard Group Inc. increased its holdings in PROS by 3.0% in the first quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock worth $178,367,000 after purchasing an additional 144,729 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of PROS by 21.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,397 shares of the software maker’s stock worth $17,226,000 after buying an additional 84,591 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of PROS during the 1st quarter worth approximately $775,000. Finally, RGM Capital LLC increased its stake in shares of PROS by 5.9% in the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock valued at $85,339,000 after acquiring an additional 166,301 shares in the last quarter. 94.27% of the stock is owned by 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.