Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of PROS Holdings (NYSE: PRO ) have popped today by as much as 24% after the company reported better-than-expected earnings.
So what: Revenue in the fourth quarter added up to $32.7 million, which topped the high end of guidance along with the consensus estimate of $31.7 million. The same can be said about the bottom-line result, with non-GAAP earnings per share of $0.11 beating the $0.10 per share forecast.
Now what: CEO Andres Reiner said the company exceeded its internal expectations and hit record revenues thanks to a surge in new customer signings in its business-to-business industries. The company grew its employee base by 31% to roughly 700 people during the year to accommodate future growth. First quarter guidance calls for revenue of $32.7 million to $33.3 million. On top of that, Craig-Hallum upgraded its rating on the stock from hold to buy and increased its price target from $17.50 to $27 following the solid quarter.
Interested in more info on PROS Holdings? Add it to your watchlist by clicking here.
2013 and beyond
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in our brand-new free report: "The Motley Fool's Top Stock for 2013." I invite you to take a copy, free for a limited time. Just click here to access the report and find out the name of this under-the-radar company.
No comments:
Post a Comment