Oppenheimer Reiterates Outperform Rating on PROS Holdings (PRO)

Oppenheimer analyst Brian Schwartz reiterated an Outperform rating and $27.00 price target on PROS Holdings (NYSE: PRO).

The analyst commented: "PROS showed above-consensus results in 3Q. The B2B business performed well, and the increasing profitability and cash generation YTD are highlights. Specifically, 3Q displayed a 24% beat on EBITDA and a record 11.2% EBITDA margin, which indicates good costs management. Management also raised the 2024 subscription revenue and EBITDA guidance at a greater amount than the upside in 3Q. This suggests a better outlook for PROS' business versus in the 1H:2024. Negatively, the Travel business remains under pressure and continues to be adversely impacted by geopolitical concerns. Last, the company announced that the CEO is planning to retire in 2025. Bottom Line: The company displayed better consistency in the 3Q results, which, combined with record profit margins, lends good support to multiples. Reiterate Outperform."

For an analyst ratings summary and ratings history on PROS Holdings click here. For more ratings news on PROS Holdings click here.

Shares of PROS Holdings closed at $19.38 yesterday.

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