Craig-Hallum upgraded Pros Holdings to Buy on strong profitability trajectory

As previously reported, Craig-Hallum upgraded Pros Holdings (PRO) to Buy from Hold with a $31 price target The firm notes the results for the quarter were ahead on top and bottom line, with the midpoint of the annual guide also raised for both. Overall, the team noted that business conditions were very much in line with what they expected 90 days ago, with B2B showing healthy growth and travel remaining challenged. Craig-Hallum finds it unlikely that the multiple would contract from this level, and sees the EPS estimates for 2025 and 2026 as likely to see material upward revision.