Procore Technologies (NYSE:PCOR) Price Target Raised to $84.00 at Stifel Nicolaus

Procore Technologies (NYSE:PCOR) had its price target hoisted by Stifel Nicolaus from $70.00 to $84.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on PCOR. KeyCorp boosted their price target on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. DA Davidson reissued a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a research report on Wednesday, October 2nd. TD Cowen boosted their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 28th. BMO Capital Markets boosted their price target on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Stock Performance

NYSE PCOR opened at $80.24 on Friday. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -160.48 and a beta of 0.71. The business has a fifty day moving average of $64.64 and a 200-day moving average of $64.00. 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 (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, analysts predict that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 8,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the sale, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $71.75, for a total value of $107,625.00. Following the completion of the sale, the chief financial officer now directly owns 171,997 shares in the company, valued at approximately $12,340,784.75. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,053 shares of company stock valued at $7,426,909 over the last three months. 29.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently made changes to their positions in PCOR. Advisors Asset Management Inc. raised its stake in shares of Procore Technologies by 26.2% in 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 last quarter. 1832 Asset Management L.P. bought a new position in shares of Procore Technologies in the first quarter valued at approximately $5,177,000. Bamco Inc. NY raised its stake in shares of Procore Technologies by 756.8% in the first quarter. Bamco Inc. NY now owns 499,559 shares of the company’s stock valued at $41,049,000 after acquiring an additional 441,256 shares during the last quarter. Untitled Investments LP acquired a new stake in shares of Procore Technologies in the first quarter valued at approximately $1,336,000. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Procore Technologies by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company’s stock valued at $2,395,000 after purchasing an additional 495 shares in the last quarter. 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.