KeyCorp Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target increased by analysts at KeyCorp from $85.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 12.55% from the stock’s current price.

A number of other research firms have also commented on PCOR. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. DA Davidson boosted their price target on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank upped their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. Barclays lifted their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Piper Sandler boosted their target price on shares of Procore Technologies from $90.00 to $110.00 and gave the company 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 given a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.35.

Procore Technologies Trading Up 13.6 %

Shares of PCOR stock traded up $10.20 during trading hours on Friday, hitting $85.30. 2,323,157 shares of the company’s stock traded hands, compared to its average volume of 1,152,724. The stock has a market cap of $12.68 billion, a PE ratio of -170.51 and a beta of 0.84. The stock’s 50 day simple moving average is $77.54 and its 200 day simple moving average is $68.50. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $86.67.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, sell-side analysts anticipate that Procore Technologies will post -0.22 EPS for the current year.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares of the company’s stock, valued at approximately $105,087,350.64. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Fu sold 7,809 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $557,250.24. Following the sale, the chief financial officer now directly owns 164,188 shares of the company’s stock, valued at approximately $11,716,455.68. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,656 shares of company stock worth $8,776,297 over the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Procore Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Procore Technologies by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock valued at $891,692,000 after buying an additional 838,925 shares during the last quarter. Capital World Investors boosted its holdings in Procore Technologies by 453.6% during the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after acquiring an additional 2,555,612 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after acquiring an additional 1,425,967 shares in the last quarter. Meritage Group LP grew its stake in shares of Procore Technologies by 66.6% in the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. 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.