Procore Technologies (NYSE:PCOR) Price Target Raised to $90.00 at Barclays

Procore Technologies (NYSE:PCOR) had its price objective boosted by Barclays from $84.00 to $90.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 2.88% from the company’s current price.

A number of other equities analysts have also recently issued reports on PCOR. Piper Sandler upped their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Finally, Canaccord Genuity Group lifted their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Stock Up 16.5 %

NYSE PCOR opened at $87.48 on Friday. The business has a fifty day moving average price of $77.63 and a two-hundred day moving average price of $68.60. The stock has a market capitalization of $13.01 billion, a PE ratio of -174.96 and a beta of 0.84. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $87.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Equities analysts expect that Procore Technologies will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, SVP William Fred Fleming, Jr. sold 2,668 shares of Procore Technologies stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $190,388.48. Following the completion of the sale, the senior vice president now owns 72,605 shares in the company, valued at $5,181,092.80. The trade was a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total transaction of $114,270.00. Following the transaction, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,656 shares of company stock valued at $8,776,297. Corporate insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after acquiring an additional 2,670,872 shares during the period. Capital World Investors lifted its holdings in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company’s stock worth $233,704,000 after purchasing an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Procore Technologies in the 4th quarter valued at $131,840,000. Wasatch Advisors LP increased its stake in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after purchasing an additional 1,575,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Procore Technologies during the third quarter worth $88,572,000. 81.10% of the stock is owned by 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.