Procore Technologies (NYSE:PCOR) Given New $83.00 Price Target at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR) had its price target hoisted by Canaccord Genuity Group from $67.00 to $83.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

PCOR has been the topic of several other research reports. Stifel Nicolaus raised their price target on shares of Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Macquarie restated a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. Scotiabank lowered their price target on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen boosted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group increased their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Procore Technologies Stock Performance

NYSE PCOR opened at $80.24 on Friday. The firm has a market capitalization of $11.93 billion, a P/E ratio of -160.48 and a beta of 0.71. The stock has a 50-day simple moving average of $64.64 and a two-hundred day simple moving average of $64.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. On average, equities analysts forecast that Procore Technologies will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares in the company, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,053 shares of company stock valued at $7,426,909 in the last three months. 29.00% of the stock is currently owned by insiders.

Institutional Trading of Procore Technologies

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC purchased a new position in Procore Technologies during the 3rd quarter valued at about $26,000. Signaturefd LLC lifted its position in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Procore Technologies in the second quarter valued at approximately $51,000. Finally, International Assets Investment Management LLC increased its stake in Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.