Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Price Target at $69.94

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat reports. Five equities research 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. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $69.94.

Several equities research analysts have commented on PCOR shares. JMP Securities dropped their price target on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Macquarie restated a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a report on Tuesday, July 30th. KeyCorp decreased their price target on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen raised their price objective on Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, BMO Capital Markets cut their target price on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $70.47, for a total value of $361,370.16. Following the sale, the director now directly owns 1,335,208 shares in the company, valued at $94,092,107.76. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the transaction, the senior vice president now owns 79,156 shares in the company, valued at approximately $4,681,285.84. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,695 shares of company stock worth $6,844,893 over the last ninety days. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the period. Tanager Wealth Management LLP increased its stake in Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock valued at $834,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC raised its position in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in Procore Technologies by 0.3% during the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after purchasing an additional 180 shares during the period. Finally, Signaturefd LLC boosted its holdings in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Shares of PCOR opened at $69.15 on Friday. Procore Technologies has a one year low of $49.46 and a one year high of $83.35. The stock’s fifty day moving average is $62.53 and its 200-day moving average is $63.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of -138.30 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Equities analysts anticipate that Procore Technologies will post -0.23 EPS for the current year.

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.