Piper Sandler Raises Procore Technologies (NYSE:PCOR) Price Target to $70.00

Procore Technologies (NYSE:PCOR) had its price target upped by equities researchers at Piper Sandler from $63.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 5.06% from the company’s current price.

A number of other analysts have also commented on PCOR. Stifel Nicolaus lowered their price objective on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays lifted their price objective on Procore Technologies from $54.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp decreased their target price on Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $66.63 on Thursday. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The firm has a market cap of $9.84 billion, a PE ratio of -133.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.55. The business has a fifty day moving average of $60.10 and a 200-day moving average of $63.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.55% and a negative net margin of 6.59%. On average, equities research analysts predict that Procore Technologies will post -0.28 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $62.88, for a total value of $322,448.64. Following the transaction, the director now directly owns 1,345,464 shares in the company, valued at $84,602,776.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the sale, the senior vice president now directly owns 79,156 shares of the company’s stock, valued at $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $62.88, for a total value of $322,448.64. Following the sale, the director now directly owns 1,345,464 shares in the company, valued at $84,602,776.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,748 shares of company stock worth $5,661,056 in the last ninety days. Insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Procore Technologies by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,299,147 shares of the company’s stock worth $764,111,000 after purchasing an additional 94,190 shares during the period. XN LP boosted its stake in shares of Procore Technologies by 101.1% during the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after acquiring an additional 1,411,812 shares in the last quarter. Dragoneer Investment Group LLC boosted its stake in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Procore Technologies during the 3rd quarter worth about $88,572,000. Finally, Robeco Schweiz AG lifted its stake in Procore Technologies by 20.1% in the 2nd quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock valued at $87,198,000 after buying an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors 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.