Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, UBS Group Analyst Says

Procore Technologies (NYSE:PCOR) had its target price hoisted by analysts at UBS Group from $105.00 to $110.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 25.74% from the company’s previous close.

PCOR has been the subject of a number of other research reports. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of Procore Technologies in a research report on Friday, February 7th. Piper Sandler lifted their price objective on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. Scotiabank lifted their price target on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Finally, KeyCorp increased their price objective on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Procore Technologies Stock Performance

Procore Technologies stock opened at $87.48 on Friday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $87.90. The firm’s 50 day simple moving average is $77.63 and its 200-day simple moving average is $68.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $13.01 billion, a P/E ratio of -174.96 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, equities research analysts predict that Procore Technologies will post -0.22 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total value of $492,095.70. Following the sale, the director now directly owns 1,231,368 shares in the company, valued at $94,532,121.36. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares of the company’s stock, valued at $6,477,042. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,656 shares of company stock valued at $8,776,297 in the last 90 days. 29.00% of the stock is currently owned by insiders.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies during the 3rd quarter valued at about $26,000. Versant Capital Management Inc increased its stake in Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust raised 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 worth $29,000 after purchasing an additional 147 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 purchasing an additional 789 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.