Procore Technologies (NYSE:PCOR) Price Target Raised to $83.00 at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR) had its price objective hoisted by Canaccord Genuity Group from $67.00 to $83.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on PCOR. KeyCorp upped their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Stifel Nicolaus boosted their target price on shares of Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities decreased their target price on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Trading Up 1.9 %

PCOR stock opened at $76.67 on Friday. The company’s fifty day simple moving average is $64.19 and its 200 day simple moving average is $63.98. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. As a group, research analysts predict that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the transaction, the chief financial officer now directly owns 171,997 shares of the company’s stock, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the transaction, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at $5,181,092.80. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,053 shares of company stock valued at $7,426,909. Corporate insiders own 29.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. Advisors Asset Management Inc. grew its position in shares of Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after acquiring an additional 260 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Procore Technologies during the 1st quarter valued at approximately $5,177,000. Bamco Inc. NY grew its position in shares of Procore Technologies by 756.8% during the 1st quarter. Bamco Inc. NY now owns 499,559 shares of the company’s stock valued at $41,049,000 after acquiring an additional 441,256 shares during the period. Untitled Investments LP purchased a new stake in shares of Procore Technologies during the 1st quarter valued at approximately $1,336,000. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Procore Technologies by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company’s stock valued at $2,395,000 after buying an additional 495 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

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.