Brokerages Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $69.94

Shares of Procore Technologies, Inc. (NYSE:PCOR) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $70.25.

Several analysts recently weighed in on PCOR shares. Barclays lifted their price target on Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets reduced their target price on shares of Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Scotiabank lowered their price target on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, JMP Securities lowered their target price on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a report on Thursday, October 31st.

Procore Technologies Trading Up 6.7 %

Shares of Procore Technologies stock opened at $74.97 on Friday. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $83.35. The company has a market capitalization of $11.15 billion, a price-to-earnings ratio of -149.94 and a beta of 0.71. The business has a fifty day simple moving average of $63.82 and a two-hundred day simple moving average of $63.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Research analysts forecast that Procore Technologies will post -0.23 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other news, CFO Howard Fu sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $71.75, for a total value of $107,625.00. Following the completion of the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $70.47, for a total value of $361,370.16. Following the sale, the director now owns 1,335,208 shares in the company, valued at $94,092,107.76. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,997 shares of company stock worth $4,497,153 over the last 90 days. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in shares of Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after acquiring an additional 143 shares during the last quarter. Tanager Wealth Management LLP lifted its holdings in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after buying an additional 150 shares during the period. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after buying an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock valued at $3,570,000 after buying an additional 180 shares during the period. Finally, Signaturefd LLC raised its position in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.