Barclays Raises Procore Technologies (NYSE:PCOR) Price Target to $78.00

Procore Technologies (NYSE:PCOR) had its price target lifted by Barclays from $66.00 to $78.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

PCOR has been the topic of several other reports. BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen raised their price target on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Jefferies Financial Group upped their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Robert W. Baird assumed coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on shares of Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Five equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Stock Up 4.6 %

NYSE:PCOR opened at $80.24 on Friday. The stock has a fifty day simple moving average of $64.64 and a 200-day simple moving average of $64.00. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $11.93 billion, a price-to-earnings ratio of -160.48 and a beta of 0.71. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 net margin of 6.59% and a negative return on equity of 2.51%. Analysts anticipate that Procore Technologies will post -0.23 EPS for the current year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the sale, the senior vice president now owns 75,120 shares of the company’s stock, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 8,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the transaction, the director now owns 1,371,104 shares in the company, valued at $79,606,298.24. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,053 shares of company stock valued at $7,426,909. Corporate insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its stake in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after acquiring an additional 143 shares during the last quarter. Tanager Wealth Management LLP raised its stake in shares of Procore Technologies by 1.2% in the second quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of 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 position in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 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.