Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Procore Technologies (NYSE:PCOR) had its price target lifted by research analysts at Piper Sandler from $90.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 25.74% from the company’s previous close.

Other analysts also recently issued reports about the company. BMO Capital Markets upped their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. The Goldman Sachs Group boosted their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Mizuho boosted their target price on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of Procore Technologies in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Stock Up 16.5 %

PCOR opened at $87.48 on Friday. The business has a 50 day moving average price of $77.63 and a two-hundred day moving average price of $68.60. 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 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.

Procore Technologies (NYSE:PCOR) last posted 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). The company had revenue of $302.05 million for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Procore Technologies will post -0.22 EPS for the current year.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares in the company, valued at approximately $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The sale 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 33,332 shares of Procore Technologies stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the transaction, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock worth $8,776,297 over the last quarter. 29.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCOR. AQR Capital Management LLC acquired a new position in Procore Technologies in the second quarter valued at $271,000. GAMMA Investing LLC boosted its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. Creative Planning acquired a new position in Procore Technologies in the third quarter valued at $234,000. Ellsworth Advisors LLC boosted its holdings in Procore Technologies by 9.1% in the third quarter. Ellsworth Advisors LLC now owns 7,561 shares of the company’s stock valued at $467,000 after acquiring an additional 631 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Procore Technologies in the third quarter valued at $26,000. 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.