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Fly News Breaks for July 26, 2019
Jul 26, 2019 | 05:45 EDT
Stifel analyst Tom Roderick raised his price target for Pros Holdings to $83 from $60 saying the company beat sales and EBITDA expectations in Q2 with ongoing gross margin improvements. Pros also increased its revenue targets for the year amidst momentum in the U.S. business-to-business market and continued success globally, Roderick tells investors in a research note. And despite the lower than expected cash flow performance due to lower deferred revenue build, the company maintained its fiscal 2019 free cash flow guidance, adds Roderick. The analyst reiterates a Buy rating on Pros Holdings shard, noting the company's cloud business is driving further acceleration in the subscription revenue stream.
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