Procore Technologies (NYSE:PCOR) Given New $74.00 Price Target at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price objective decreased by research analysts at Piper Sandler from $77.00 to $74.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 14.06% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their price objective on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Macquarie started coverage on Procore Technologies in a research note on Wednesday, June 5th. They set a “neutral” rating and a $70.00 target price for the company. Mizuho reaffirmed a “neutral” rating and issued a $70.00 target price (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. BMO Capital Markets reiterated an “outperform” rating and issued a $85.00 price target on shares of Procore Technologies in a research report on Tuesday, June 11th. Finally, Barclays decreased their price objective on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Procore Technologies Trading Up 0.9 %

Shares of PCOR stock opened at $64.88 on Friday. The firm has a 50-day moving average price of $66.82 and a 200 day moving average price of $71.36. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of -67.58 and a beta of 0.75. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. The company had revenue of $269.43 million during the quarter, compared to the consensus estimate of $263.13 million. Research analysts forecast that Procore Technologies will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now directly owns 530,049 shares in the company, valued at $36,557,479.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the sale, the chief executive officer now owns 530,049 shares in the company, valued at $36,557,479.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total value of $223,701.96. Following the sale, the senior vice president now owns 87,248 shares in the company, valued at approximately $6,122,192.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,554 shares of company stock worth $20,096,420. Company insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Procore Technologies by 6,823.1% during the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock valued at $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 fourth quarter valued at $62,000. Advisors Asset Management Inc. lifted its stake in shares of Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after acquiring an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Procore Technologies by 29.3% during the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.