Oppenheimer downgrades Pros Holdings to Perform on challenging end-market demand

As previously reported, Oppenheimer analyst Brian Schwartz downgraded Pros Holdings (PRO) to Perform from Outperform and removed the firm’s price target of $27. The firm sees Pros as a good company, well entrenched in its customer’s dynamic pricing IT landscape and notes the breath of the company’s sales optimization products and AI engineering resources are compelling, best of breed, and deeply integrated. However, a challenging new software spending environment among Airlines, an impending CEO transition, and a larger deceleration in subscription revenue growth in 2025 will continue to weigh on fundamentals and sentiment, Oppenheimer argues.