Stifel Nicolaus Increases Procore Technologies (NYSE:PCOR) Price Target to $84.00

Procore Technologies (NYSE:PCOR) had its price target lifted by investment analysts at Stifel Nicolaus from $70.00 to $84.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 9.55% from the company’s current price.

Several other brokerages have also recently commented on PCOR. Scotiabank lowered their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays upped their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday. KeyCorp boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Sandler increased their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $76.68 on Friday. The firm has a market cap of $11.40 billion, a P/E ratio of -153.36 and a beta of 0.71. The business’s 50 day moving average is $64.19 and its 200-day moving average is $63.94. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 1-year low of $49.46 and a 1-year high of $83.35.

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

Insider Activity at Procore Technologies

In other news, CFO Howard Fu sold 1,500 shares of Procore Technologies stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares in the company, valued at approximately $12,340,784.75. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now owns 770,458 shares of the company’s stock, valued at $54,979,882.88. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,053 shares of company stock valued at $7,426,909 in the last 90 days. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Procore Technologies in the 3rd quarter worth approximately $26,000. Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Finally, Rothschild Investment LLC bought a new position in Procore Technologies during the second quarter worth $51,000. 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.