Procore Technologies (NYSE:PCOR) Price Target Raised to $110.00 at UBS Group

Procore Technologies (NYSE:PCOR) had its target price lifted by UBS Group from $105.00 to $110.00 in a research note published on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on PCOR. Piper Sandler increased their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of Procore Technologies in a report on Friday, February 7th. TD Cowen increased their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Scotiabank increased their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. Finally, KeyCorp increased their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $87.48 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $77.63 and a 200 day moving average price of $68.62. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $87.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, equities research analysts predict that Procore Technologies will post -0.22 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 2,668 shares of Procore Technologies stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the sale, the senior vice president now owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. This trade represents a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the sale, the director now directly owns 1,231,368 shares in the company, valued at $94,532,121.36. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,656 shares of company stock valued at $8,776,297. 29.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently added to or reduced their stakes in PCOR. Mercer Global Advisors Inc. ADV purchased a new position in Procore Technologies in the 4th quarter valued at $273,000. Comerica Bank lifted its holdings in Procore Technologies by 87.0% in the 4th quarter. Comerica Bank now owns 131,316 shares of the company’s stock valued at $9,839,000 after purchasing an additional 61,082 shares in the last quarter. Northern Trust Corp lifted its holdings in Procore Technologies by 17.0% in the 4th quarter. Northern Trust Corp now owns 594,668 shares of the company’s stock valued at $44,558,000 after purchasing an additional 86,192 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Procore Technologies in the 4th quarter valued at $10,345,000. Finally, Science & Technology Partners L.P. purchased a new position in Procore Technologies in the 4th quarter valued at $25,558,000. Institutional investors and hedge funds 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.