Procore Technologies (NYSE:PCOR) Given New $70.00 Price Target at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price target lifted by Piper Sandler from $63.00 to $70.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also commented on the company. Barclays raised their target price on Procore Technologies from $54.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their target price on shares of Procore Technologies from $60.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. BMO Capital Markets reduced their price target on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. DA Davidson reissued a “neutral” rating and issued a $60.00 price target on shares of Procore Technologies in a research note on Wednesday, October 2nd. Finally, Baird R W raised shares of Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.94.

Procore Technologies Stock Performance

PCOR opened at $66.63 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35. The firm has a 50 day moving average of $60.10 and a two-hundred day moving average of $63.78. The firm has a market capitalization of $9.84 billion, a PE ratio of -133.26 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.55%. On average, analysts anticipate that Procore Technologies will post -0.28 EPS for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP William Fred Fleming, Jr. sold 2,707 shares of Procore Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Connor Kevin J. O sold 3,846 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the transaction, the director now owns 1,444,313 shares of the company’s stock, valued at $77,487,392.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,419 shares of company stock valued at $6,289,671. 29.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of Procore Technologies by 29.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 75,840 shares of the company’s stock worth $6,232,000 after acquiring an additional 17,119 shares during the last quarter. M&G Plc acquired a new position in Procore Technologies during the first quarter worth $8,798,000. Swiss National Bank boosted its position in shares of Procore Technologies by 9.3% during the first quarter. Swiss National Bank now owns 184,100 shares of the company’s stock worth $15,127,000 after buying an additional 15,700 shares during the period. BNP Paribas acquired a new stake in shares of Procore Technologies in the first quarter valued at $1,349,000. Finally, Park Avenue Securities LLC raised its holdings in shares of Procore Technologies by 16.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock valued at $580,000 after buying an additional 1,266 shares during the period. 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.