Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $90.24

Procore Technologies, Inc. (NYSE:PCOR) has earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $90.24.

PCOR has been the topic of several recent research reports. Barclays upped their price objective on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Mizuho raised their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price objective on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Macquarie lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th.

Procore Technologies Stock Up 2.4 %

Shares of NYSE PCOR opened at $72.07 on Thursday. The firm’s 50-day moving average is $76.34 and its two-hundred day moving average is $71.76. The company has a market capitalization of $10.81 billion, a PE ratio of -100.10 and a beta of 0.85. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $88.92. 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 issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities analysts anticipate that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the sale, the insider now directly owns 83,039 shares of the company’s stock, valued at approximately $6,477,042. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,190 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now owns 146,160 shares in the company, valued at approximately $9,792,720. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock worth $5,427,468 over the last three months. 29.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently bought and sold shares of the business. Cache Advisors LLC bought a new position in shares of Procore Technologies during the fourth quarter worth about $2,909,000. JT Stratford LLC bought a new stake in Procore Technologies in the fourth quarter valued at $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Procore Technologies by 15.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company’s stock worth $22,347,000 after purchasing an additional 39,935 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Procore Technologies in the 4th quarter valued at approximately $14,855,000. Finally, Woodline Partners LP increased its holdings in shares of Procore Technologies by 45.8% during the fourth quarter. Woodline Partners LP now owns 691,980 shares of the company’s stock valued at $51,850,000 after purchasing an additional 217,351 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.