The stock of PROS Holdings, Inc. (NYSE:PRO) is now priced at $32.63 and the shares are -6.06 points down or -15.66% lower compared to its previous closing price of $38.69. The stock had 2.23 million contracts set over the past session. PRO shares’ daily volume is compared to its average trading volume at 0.365 million shares. However, it has a float of 38.88 million and although its performance was -16.8% over the week, it’s one to watch. Analysts have given the PRO stock a yearly average price target of $47.56 per share. It means the stock’s upside potential is 45.76% with the PRO share price recently placing at $30.31 to $36.62. However, some brokerage firms have priced the stock below the average, including one that has called $30.
The shorts are running away from the PROS Holdings, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the PRO shares have declined. Short interest in the stock represents just 8.76% of its float, but the volume has dropped by 0.
In the last trading session, PROS Holdings, Inc. (NYSE:PRO) dropped by -$6.59 over the week and lost -$12.23 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $75.39. The stock recorded its established 52-week high on 08/09/19.
Since 03/18/20, the stock has traded to a low of $19.73 at 65.38%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, PROS Holdings, Inc.’s two-week RSI is 27.02. This suggests that the stock is overbought at the moment and that PRO shares’ price movement remains not stable. The stochastic readings are equally revealing at 17.41% meaning the PRO share price is currently in overbought territory.
The technical chart shows that the PRO stock will likely settle at between $36.06 and $39.5 per share. However, if the stock dips below $29.75, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $26.88.
Currently, the stock is trading in the red of MACD, with a reading of -1.98. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan cut their recommendation for PRO from Neutral to Underweight in July 31 review while maintai their target price of $38. Robert W. Baird analysts see the stock as a Outperform with a target price of $45 in a flash note released to investors on June 02 initiating covering the stock. Craig Hallum seeing the stock struggling downgraded it from Buy to Hold on May 06 placing it at $42 to $35.
The average rating for the PRO equity is 2.09 and is currently gathering a bullish momentum. Of 11 analysts tracking PROS Holdings, Inc. polled by Reuters, 3 rated PRO as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PRO stock price is 0X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PROS Holdings, Inc. (NYSE:PRO) will decrease by about -99.9%, which will see them reach $63.37 million. The company’s full-year revenues are, however, expected to increase by about 3.02%, up from $250.33 million to $257.9 million. PRO’s expected adjusted earnings should surge almost 116.67% to end up at -$0.13 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 91.43% to record -$0.67/share.