Barclays Increases Procore Technologies (NYSE:PCOR) Price Target to $64.00

Procore Technologies (NYSE:PCOR) had its target price upped by research analysts at Barclays from $54.00 to $64.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 7.74% from the company’s current price.

Several other brokerages have also issued reports on PCOR. The Goldman Sachs Group reduced their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. DA Davidson reissued a “neutral” rating and issued a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. Stifel Nicolaus cut their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. TD Cowen began coverage on Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Piper Sandler cut their price objective on Procore Technologies from $74.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.13.

Procore Technologies Trading Up 1.0 %

Shares of NYSE PCOR opened at $59.40 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $8.69 billion, a P/E ratio of -61.26 and a beta of 0.73. Procore Technologies has a 1-year low of $48.11 and a 1-year high of $83.35. The business has a fifty day moving average price of $58.46 and a 200 day moving average price of $65.82.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. During the same period in the prior year, the business posted ($0.28) EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. Equities research analysts expect that Procore Technologies will post -0.28 EPS for the current fiscal year.

Insider Activity

In other news, insider Benjamin C. Singer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the insider now owns 106,705 shares in the company, valued at $7,469,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Benjamin C. Singer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the insider now owns 106,705 shares in the company, valued at $7,469,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,142 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $68.68, for a total value of $78,432.56. Following the completion of the transaction, the chief financial officer now owns 181,419 shares in the company, valued at approximately $12,459,856.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,890 shares of company stock worth $5,947,691 over the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Tanager Wealth Management LLP lifted its position in Procore Technologies by 1.2% during the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares in the last quarter. GAMMA Investing LLC lifted its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its position in Procore Technologies by 0.3% during the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after buying an additional 180 shares in the last quarter. Signaturefd LLC lifted its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.