PROS Holdings (PRO) PT Raised to $80 at Needham on Impressive Organic Growth

Needham & Company analyst Scott Berg raised the price target on PROS Holdings (NYSE: PRO) to $80.00 (from $70.00) while maintaining a Strong Buy rating after the company reported impressive Q2/19 results.

The analyst stated "We believe the most impressive part of the company's significant revenue growth acceleration thus far in 2019 is that it has all come from new sales and was not inflated by legacy license customers transitioning to its new SaaS platform. Much better than expected demand in the Pros' B2B segment continues to drive subscription billings growth better than +30% Y/Y. We like the additional sales investments to be made in 2H19 given current B2B demand trends and anticipate additional investment of sales outperformance to extend into 2020".

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