Pros Holdings price target lowered to $31 from $42 at Oppenheimer

Oppenheimer lowered the firm’s price target on Pros Holdings to $31 from $42 and keeps an Outperform rating on the shares. The firm notes the company showed mixed results in its Q2, with solid margin improvements and cash generation offset by weakness in the Travel segment. This weakness drove downward revisions to the 2024 revenue guidance and 2026 financial targets. The 2026 target revisions are unsurprising since most investors viewed those financial targets as stretch goals, and overhanging the stock, Oppenheimer argues.