Procore Technologies (NYSE:PCOR) Price Target Raised to $66.00 at Barclays

Procore Technologies (NYSE:PCOR) had its price objective hoisted by Barclays from $64.00 to $66.00 in a report published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. DA Davidson restated a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler raised their price objective on shares of Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. JMP Securities reduced their price objective on shares of Procore Technologies from $93.00 to $82.00 and set a “market outperform” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Six 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.94.

Procore Technologies Stock Performance

PCOR traded up $1.95 during midday trading on Thursday, reaching $67.60. The company had a trading volume of 680,543 shares, compared to its average volume of 1,543,918. 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 stock has a market cap of $9.98 billion, a PE ratio of -131.32 and a beta of 0.73. Procore Technologies has a 12-month low of $48.11 and a 12-month high of $83.35. The business has a 50-day moving average price of $59.99 and a two-hundred day moving average price of $63.94.

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

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were 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 in the company, valued at $4,681,285.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Connor Kevin J. O sold 3,846 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $53.65, for a total value of $206,337.90. Following the completion of the transaction, the director now directly owns 1,444,313 shares of the company’s stock, valued at $77,487,392.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,748 shares of company stock worth $5,661,056. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Procore Technologies during the 3rd quarter worth approximately $26,000. Signaturefd LLC increased its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after acquiring an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Procore Technologies in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors 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.