Procore Technologies (NYSE:PCOR) Price Target Lowered to $75.00 at Mizuho

Procore Technologies (NYSE:PCOR) had its target price lowered by Mizuho from $80.00 to $75.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. JMP Securities raised their price target on Procore Technologies from $81.00 to $93.00 and gave the company a market outperform rating in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $76.00 to $81.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. Piper Sandler upped their price target 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. DA Davidson restated a buy rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Finally, KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Procore Technologies has a consensus rating of Moderate Buy and an average price target of $81.79.

Procore Technologies Trading Down 1.6 %

PCOR opened at $68.14 on Thursday. 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 firm’s 50-day simple moving average is $76.35 and its 200-day simple moving average is $68.92. Procore Technologies has a twelve month low of $48.11 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last released 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 net margin of 13.64% and a negative return on equity of 8.37%. As a group, sell-side analysts forecast that Procore Technologies will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, insider Benjamin C. Singer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.05, for a total value of $207,150.00. Following the completion of the sale, the insider now owns 122,321 shares in the company, valued at $8,446,265.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Benjamin C. Singer sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.05, for a total transaction of $207,150.00. Following the completion of the transaction, the insider now owns 122,321 shares in the company, valued at $8,446,265.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $80.00, for a total transaction of $8,800,000.00. Following the completion of the sale, the chief executive officer now owns 532,749 shares of the company’s stock, valued at approximately $42,619,920. The disclosure for this sale can be found here. Insiders have sold a total of 538,672 shares of company stock valued at $41,509,564 in the last 90 days. 39.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procore Technologies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Procore Technologies by 13.2% in the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after buying an additional 995,757 shares in the last quarter. California Public Employees Retirement System increased its holdings in Procore Technologies by 31.8% during the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock worth $9,101,000 after purchasing an additional 33,590 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Procore Technologies by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock valued at $7,259,000 after purchasing an additional 2,073 shares during the period. Lisanti Capital Growth LLC bought a new stake in shares of Procore Technologies in the third quarter valued at about $2,922,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Procore Technologies during the third quarter worth about $7,328,000. 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.