Procore Technologies (NYSE:PCOR) Given New $110.00 Price Target at Piper Sandler

Procore Technologies (NYSE:PCOR) had its price target lifted by Piper Sandler from $90.00 to $110.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of Procore Technologies in a research report on Friday, February 7th. Stifel Nicolaus increased their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. KeyCorp increased their price target on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Barclays increased their price target on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, 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. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Trading Up 16.5 %

Shares of Procore Technologies stock opened at $87.48 on Friday. The stock’s fifty day moving average is $77.63 and its two-hundred day moving average is $68.62. 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 has a 52 week low of $49.46 and a 52 week high of $87.90.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Sell-side analysts predict that Procore Technologies will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the sale, the director now directly owns 1,282,648 shares in the company, valued at approximately $105,087,350.64. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the transaction, the senior vice president now owns 72,605 shares of the company’s stock, valued at approximately $5,181,092.80. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,656 shares of company stock worth $8,776,297. 29.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PCOR. AQR Capital Management LLC purchased a new position in shares of Procore Technologies in the second quarter worth about $271,000. 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. Creative Planning purchased a new position in shares of Procore Technologies in the third quarter worth about $234,000. Ellsworth Advisors LLC raised its stake in shares of Procore Technologies by 9.1% in the third quarter. Ellsworth Advisors LLC now owns 7,561 shares of the company’s stock worth $467,000 after purchasing an additional 631 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies in the third quarter worth about $26,000. 81.10% of the stock is currently 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.