PROS (NYSE:PRO) Stock Price Passes Above 200 Day Moving Average - What's Next?

PROS Holdings, Inc. (NYSE:PRO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.64 and traded as high as $21.78. PROS shares last traded at $21.75, with a volume of 540,026 shares traded.

Wall Street Analysts Forecast Growth

PRO has been the topic of several research reports. Robert W. Baird boosted their target price on PROS from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. Oppenheimer cut their price objective on shares of PROS from $31.00 to $27.00 and set an "outperform" rating on the stock 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 on the stock in a research note on Wednesday, October 30th. StockNews.com upgraded PROS from a "hold" rating to a "buy" rating in a report on Saturday, November 16th. Finally, Craig Hallum raised shares of PROS from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $31.88.

PROS Stock Performance

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -35.08 and a beta of 1.21. The business has a fifty day simple moving average of $22.92 and a 200 day simple moving average of $21.64.

PROS (NYSE:PRO - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The business had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, sell-side analysts forecast that PROS Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. RGM Capital LLC grew its stake in PROS by 1.7% during the third quarter. RGM Capital LLC now owns 3,028,677 shares of the software maker's stock worth $56,091,000 after buying an additional 50,000 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of PROS by 14.7% during the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker's stock worth $83,633,000 after acquiring an additional 373,982 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in PROS by 2.4% in the third quarter. Rockefeller Capital Management L.P. now owns 1,727,026 shares of the software maker's stock valued at $32,008,000 after acquiring an additional 39,846 shares during the last quarter. State Street Corp raised its position in PROS by 2.9% during the third quarter. State Street Corp now owns 1,167,706 shares of the software maker's stock valued at $21,626,000 after purchasing an additional 33,176 shares in the last quarter. Finally, Tensile Capital Management LP lifted its stake in PROS by 373.4% during the third quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker's stock worth $21,507,000 after purchasing an additional 915,990 shares during the last quarter. 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.