Jefferies Reiterates Buy Rating On PRO

Jefferies is reiterating its Buy rating on PROS Holdings, Inc. PRO “following a strong 1Q11 report, 2Q11 guidance ahead of our/ Street expectations, and an improved outlook for CY11 revs.” “During 1Q11, PRO increased its direct sales HC, developed new partnerships, and launched two cloud-based solutions geared toward the midmarket,” Jefferies writes. “We still believe there is some room for better sales growth in CY11 and expect notable operating leverage to materialize over time.” PROS Holdings closed Thursday at $14.79.