Scott Berg, an analyst from Needham, maintained the Buy rating on PROS Holdings. The associated price target remains the same with $25.00.
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Scott Berg’s rating is based on several positive developments at PROS Holdings. The company reported a strong second quarter, with significant growth in both Travel and B2B sectors, leading to higher-than-expected total and subscription revenues. This growth was supported by improvements in sales cycles, competitive win rates, and booking linearity, which contributed to billings exceeding expectations.
Additionally, the new CEO, Jeff Cotten, has introduced effective go-to-market strategies, including plans to increase the number of quota-bearing representatives and launch targeted campaigns aimed at boosting future bookings. The focus on partnerships, exemplified by the successful Commerce partnership, further supports the company’s growth prospects. Moreover, the increase in Subscription ARR guidance reflects confidence in the company’s business trends and revenue visibility, particularly in the Travel segment, indicating a positive outlook for the future.
Berg covers the Technology sector, focusing on stocks such as PROS Holdings, Amplitude, and Paylocity. According to TipRanks, Berg has an average return of -3.8% and a 40.68% success rate on recommended stocks.