Pros Holdings price target lowered to $25 from $30 at Needham

Needham lowered the firm’s price target on Pros Holdings (PRO) to $25 from $30 and keeps a Buy rating on the shares. The company reported good Q1 results with modest beats across the board and with overall sales commentary further supporting the prior management comments regarding solid recovery in its Travel segment, the analyst tells investors in a research note. Travel demand improvement is driving the firm’s enthusiasm that the company’s subscription growth rate can re-accelerate, though the stock’s price target cut reflects software valuations trending lower, the firm added.