Procore Technologies (NYSE:PCOR) Price Target Raised to $96.00 at KeyCorp

Procore Technologies (NYSE:PCOR) had its price target raised by research analysts at KeyCorp from $85.00 to $96.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 9.74% from the company’s current price.

Several other research firms have also recently weighed in on PCOR. The Goldman Sachs Group upped their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Robert W. Baird upped their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of Procore Technologies in a research report on Friday, February 7th. Scotiabank upped their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Finally, Mizuho increased their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Procore Technologies Trading Up 16.5 %

Shares of Procore Technologies stock opened at $87.48 on Friday. The firm has a 50-day moving average of $77.63 and a 200-day moving average of $68.60. The stock has a market cap of $13.01 billion, a PE ratio of -174.96 and a beta of 0.84. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $87.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, sell-side analysts forecast that Procore Technologies will post -0.22 EPS for the current year.

Insider Activity

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at $5,181,092.80. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,656 shares of company stock valued at $8,776,297 over the last quarter. 29.00% of the stock is owned by company insiders.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. Principal Financial Group Inc. increased its position in Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. Capital World Investors boosted its holdings in shares of Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after buying an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Procore Technologies during the 4th quarter worth approximately $131,840,000. Wasatch Advisors LP boosted its holdings in shares of Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after buying an additional 1,575,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Procore Technologies during the 3rd quarter worth approximately $88,572,000. 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.