KeyCorp Has Lowered Expectations for PROS (NYSE:PRO) Stock Price

PROS (NYSE:PRO) had its price target cut by equities researchers at KeyCorp from $36.00 to $28.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. KeyCorp’s target price would suggest a potential upside of 41.41% from the company’s current price.

A number of other research firms also recently weighed in on PRO. Robert W. Baird decreased their price target on PROS from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC reduced their target price on PROS from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America reduced 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. Finally, Oppenheimer reduced 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.63.

PROS Stock Performance

Shares of PRO stock opened at $19.80 on Wednesday. The stock’s fifty day moving average is $18.54 and its 200-day moving average is $24.47. The stock has a market capitalization of $934.68 million, a PE ratio of -31.94 and a beta of 1.21. PROS has a 52 week low of $16.64 and a 52 week high of $40.99.

PROS (NYSE:PRO) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $82.01 million for the quarter, compared to analyst estimates of $81.38 million. During the same period in the prior year, the business earned ($0.24) EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts forecast that PROS will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROS

A number of hedge funds and other institutional investors have recently modified their holdings of PRO. Principal Financial Group Inc. grew its stake in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after buying an additional 484 shares during the last quarter. ProShare Advisors LLC increased its stake in PROS by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock worth $292,000 after buying an additional 632 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock valued at $289,000 after purchasing an additional 916 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PROS in the 2nd quarter valued at about $29,000. Finally, Quarry LP bought a new position in shares of PROS in the 2nd quarter valued at about $38,000. Institutional investors own 94.27% of the company’s stock.

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.