Procore Technologies (NYSE:PCOR) PT Lowered to $80.00

Procore Technologies (NYSE:PCOR) had its price target trimmed by Canaccord Genuity Group from $95.00 to $80.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets decreased their target price on Procore Technologies from $90.00 to $85.00 and set an outperform rating for the company in a report on Thursday. Stifel Nicolaus raised their target price on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a buy rating in a report on Friday, February 16th. Mizuho lowered their price target on shares of Procore Technologies from $80.00 to $75.00 and set a buy rating on the stock in a report on Thursday. Piper Sandler reduced their price objective on Procore Technologies from $80.00 to $77.00 and set an overweight rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $81.79.

Procore Technologies Stock Up 0.6 %

NYSE PCOR traded up $0.38 during trading on Thursday, hitting $68.52. The company’s stock had a trading volume of 1,555,285 shares, compared to its average volume of 1,276,918. Procore Technologies has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The company has a market cap of $9.93 billion, a PE ratio of -71.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60. The business’s 50 day simple moving average is $76.24 and its 200-day simple moving average is $68.93.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $260.04 million during the quarter, compared to analysts’ expectations of $248.20 million. On average, equities analysts anticipate that Procore Technologies will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now owns 77,768 shares in the company, valued at approximately $5,747,055.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the completion of the transaction, the senior vice president now directly owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $71.79, for a total transaction of $368,139.12. Following the sale, the director now directly owns 1,532,781 shares in the company, valued at approximately $110,038,347.99. The disclosure for this sale can be found here. Insiders have sold a total of 533,544 shares of company stock valued at $41,139,271 over the last ninety days. Corporate insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC purchased a new position in Procore Technologies during the third quarter worth approximately $36,000. International Assets Investment Management LLC raised its holdings in shares of Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after acquiring an additional 887 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Procore Technologies during the 4th quarter valued at about $62,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after purchasing an additional 297 shares during the period. Finally, TFO Wealth Partners LLC grew its holdings in shares of Procore Technologies by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after purchasing an additional 2,180 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.