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

Procore Technologies (NYSE:PCOR) had its price target upped by KeyCorp from $85.00 to $96.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on PCOR. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Scotiabank lifted their target price on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Barclays lifted their target price on Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group initiated coverage on Procore Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $105.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Stock Up 16.5 %

NYSE PCOR opened at $87.48 on Friday. 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 fifty day moving average of $77.63 and a two-hundred day moving average of $68.58. The firm has a market capitalization of $13.01 billion, a price-to-earnings 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 firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, analysts predict that Procore Technologies will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the transaction, the senior vice president now owns 72,605 shares in the company, valued at $5,181,092.80. This trade represents a 3.54 % 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. Insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its stake in shares of Procore Technologies by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after acquiring an additional 129 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after acquiring an additional 143 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares during the last quarter. Finally, Tanager Wealth Management LLP grew its stake in shares of Procore Technologies by 1.3% during the third quarter. Tanager Wealth Management LLP now owns 12,747 shares of the company’s stock worth $787,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other 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.