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

Procore Technologies (NYSE:PCOR) had its price target boosted by investment analysts at KeyCorp from $85.00 to $96.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 12.55% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler raised their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. BMO Capital Markets raised their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Scotiabank upped their target price on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Four investment 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 stock. According to data from MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $89.35.

Procore Technologies Stock Up 13.6 %

Shares of PCOR traded up $10.20 on Friday, hitting $85.30. The company’s stock had a trading volume of 2,323,157 shares, compared to its average volume of 1,152,724. The firm’s fifty day moving average price is $77.54 and its 200-day moving average price is $68.50. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. 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 firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -170.51 and a beta of 0.84.

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). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities research analysts expect that Procore Technologies will post -0.22 EPS for the current year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the sale, the director now owns 1,231,368 shares of the company’s stock, valued at $94,532,121.36. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 770,458 shares in the company, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. 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. 29.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc lifted its stake in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 147 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the last quarter. 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.