PROS (NYSE:PRO) Shares Gap Down - Here's What Happened

PROS Holdings, Inc. (NYSE:PRO - Get Free Report) shares 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 traded.

Analyst Ratings Changes

Several research firms have commented on PRO. KeyCorp decreased their target price on shares of PROS from $36.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Northland Securities reissued an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Needham & Company LLC cut 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, October 30th. Robert W. Baird raised their target price on PROS from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Finally, Craig Hallum raised PROS from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.88.

PROS Price Performance

The company has a market cap of $1.06 billion, a price-to-earnings ratio of -35.99 and a beta of 1.21. The business's fifty day moving average price is $22.92 and its 200 day moving average price is $21.41.

PROS (NYSE:PRO - Get Free Report) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.32 million. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, equities research analysts anticipate that PROS Holdings, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On PROS

Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new position in shares of PROS during the 2nd quarter valued at $264,000. Envestnet Asset Management Inc. raised its holdings in shares of PROS by 18.1% during the second quarter. Envestnet Asset Management Inc. now owns 375,076 shares of the software maker's stock valued at $10,746,000 after purchasing an additional 57,511 shares during the period. Renaissance Technologies LLC boosted its position in shares of PROS by 17.3% during the 2nd quarter. Renaissance Technologies LLC now owns 102,400 shares of the software maker's stock worth $2,934,000 after purchasing an additional 15,100 shares in the last quarter. MQS Management LLC acquired a new stake in shares of PROS in the 2nd quarter valued at about $304,000. Finally, Inspire Investing LLC increased its position in PROS by 23.8% in the 2nd quarter. Inspire Investing LLC now owns 12,315 shares of the software maker's stock valued at $353,000 after buying an additional 2,364 shares in the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

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.