Procore Technologies (NYSE:PCOR) Price Target Raised to $83.00

Procore Technologies (NYSE:PCOR) had its price objective increased by The Goldman Sachs Group from $73.00 to $83.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on PCOR. Macquarie reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Procore Technologies in a research note on Tuesday, July 30th. KeyCorp boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler lifted their price target on shares of Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. 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. Finally, Baird R W raised Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Trading Up 1.9 %

PCOR stock opened at $76.68 on Friday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of -153.36 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business has a fifty day moving average price of $64.19 and a 200 day moving average price of $63.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Analysts expect that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 109,053 shares of company stock valued at $7,426,909 in the last three months. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies during the 3rd quarter valued at $26,000. Signaturefd LLC grew its position in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Procore Technologies in the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC raised its position in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after acquiring an additional 789 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.