J.P. Morgan Increases PT On PROS Holdings to $13, Maintains Neutral (PRO)

J.P. Morgan increased its price target on PROS Holdings PRO from $11 to $13. In a research report published today, J.P. Morgan named better than expected Q1 results as a reason for this upgrade. In the report, J.P. Morgan states, "PROS reported non-GAAP EPS of $0.07 on revenue of $21.4 million, versus consensus of and our estimate of $0.06 and $20.75 million, and guidance of $0.05 - 0.06 and $20.5 – $20.9 million, respectively." Better than expected Q1 results were not enough to persuade J.P. Morgan to raise its rating on PROS from Neutral, however. In yesterday's trading, PROS lost 2.76% to close the day at $14.74.