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

Procore Technologies (NYSE:PCOR) had its price objective increased by UBS Group from $105.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on PCOR. The Goldman Sachs Group upped their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Barclays upped their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday. BMO Capital Markets upped their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. DA Davidson upped their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Procore Technologies Stock Up 16.5 %

Shares of PCOR opened at $87.48 on Friday. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $87.90. The firm has a market cap of $13.01 billion, a P/E ratio of -174.96 and a beta of 0.84. The firm’s 50-day simple moving average is $77.63 and its 200 day simple moving average is $68.58. 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 posted its quarterly earnings data 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%. On average, analysts forecast that Procore Technologies will post -0.22 earnings per share for the current year.

Insider Activity

In related news, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction 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 transaction, the insider now owns 84,539 shares of the company’s stock, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $76.77, for a total transaction of $492,095.70. Following the transaction, the director now directly owns 1,231,368 shares of the company’s stock, valued at $94,532,121.36. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,656 shares of company stock valued at $8,776,297. Insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV bought a new position in Procore Technologies during the fourth quarter worth $273,000. Comerica Bank raised its stake in Procore Technologies by 87.0% during the fourth quarter. Comerica Bank now owns 131,316 shares of the company’s stock worth $9,839,000 after buying an additional 61,082 shares during the last quarter. Northern Trust Corp raised its stake in Procore Technologies by 17.0% during the fourth quarter. Northern Trust Corp now owns 594,668 shares of the company’s stock worth $44,558,000 after buying an additional 86,192 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Procore Technologies during the fourth quarter worth $10,345,000. Finally, Science & Technology Partners L.P. bought a new position in Procore Technologies during the fourth quarter worth $25,558,000. Institutional investors own 81.10% of the company’s stock.

About Procore Technologies

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.