Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Price Target at $81.86

Procore Technologies, Inc. (NYSE:PCOR) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $81.86.

Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. The Goldman Sachs Group lifted their price target on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. DA Davidson restated a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. Stifel Nicolaus raised their price objective on Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets lifted their price objective on Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th.

Procore Technologies Trading Down 0.2 %

NYSE PCOR opened at $68.25 on Monday. The company has a market cap of $9.99 billion, a price-to-earnings ratio of -51.32 and a beta of 0.71. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $76.54 and its 200 day moving average is $68.92.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The firm had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. As a group, sell-side analysts expect that Procore Technologies will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 1,441 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total value of $102,339.82. Following the completion of the sale, the chief financial officer now directly owns 192,178 shares of the company’s stock, valued at $13,648,481.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Benjamin C. Singer sold 3,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the sale, the insider now owns 125,321 shares in the company, valued at $10,295,120.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,441 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the transaction, the chief financial officer now owns 192,178 shares in the company, valued at $13,648,481.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,672 shares of company stock valued at $36,612,454. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Procore Technologies by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 9,204,957 shares of the company’s stock valued at $637,167,000 after acquiring an additional 666,287 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Procore Technologies by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock valued at $309,926,000 after purchasing an additional 114,649 shares during the period. Cadian Capital Management LP increased its position in shares of Procore Technologies by 22.9% during the 4th quarter. Cadian Capital Management LP now owns 3,718,341 shares of the company’s stock valued at $257,384,000 after purchasing an additional 692,218 shares during the last quarter. Invesco Ltd. raised its stake in shares of Procore Technologies by 32.8% during the 3rd quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock worth $156,654,000 after purchasing an additional 592,318 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Procore Technologies by 4,290.2% in the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after buying an additional 1,303,804 shares during the last quarter. 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.