Stifel Nicolaus Issues Positive Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR) had its price target raised by stock analysts at Stifel Nicolaus from $84.00 to $93.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 16.56% from the stock’s current price.

Several other analysts have also recently issued reports on PCOR. DA Davidson upped their price objective on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. The Goldman Sachs Group increased their price target on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. UBS Group assumed coverage on Procore Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $105.00 price target on the stock. TD Cowen increased their price target on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, JMP Securities increased their price target on Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $84.24.

Procore Technologies Stock Up 0.5 %

Shares of NYSE:PCOR traded up $0.36 during trading on Wednesday, hitting $79.79. The company’s stock had a trading volume of 462,502 shares, compared to its average volume of 1,654,599. The stock’s 50-day moving average price is $71.58 and its two-hundred day moving average price is $65.42. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a market capitalization of $11.86 billion, a PE ratio of -159.58 and a beta of 0.82. 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 (NYSE:PCOR) last announced 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). 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 for the quarter, compared to analysts’ expectations of $287.42 million. As a group, sell-side analysts expect that Procore Technologies will post -0.23 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the transaction, the director now directly owns 1,360,848 shares of the company’s stock, valued at approximately $79,582,391.04. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.01, for a total value of $507,065.00. Following the sale, the director now directly owns 23,932 shares of the company’s stock, valued at approximately $1,866,935.32. This represents a 21.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,321 shares of company stock valued at $10,664,711. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several large investors have recently modified their holdings of PCOR. GAMMA Investing LLC boosted its stake in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the 3rd quarter worth $26,000. Signaturefd LLC lifted its holdings in shares of 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 purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Procore Technologies in the second quarter valued at $51,000. 81.10% of the stock is owned by institutional investors.

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.