Pros CRO departure doesn’t dent Northland confidence in ‘Top Pick’ status

Northland notes that Pros Holdings (PRO) announced Todd McNabb will cease serving as the company’s Chief Revenue Officer on July 1, while also noting that incoming CEO Jeff Cotten had CRO experience before becoming a CEO at private equity owned software companies. The CRO departure is “a small incremental negative relative to strong positive fundamentals,” contends the analyst, who adds that the departure is “not a large enough” negative to dent its confidence in its “Top Pick” status for Pros. The firm reiterates an Outperform rating and 12-month price target of $38 on the shares.