KeyCorp Forecasts Strong Price Appreciation for Procore Technologies (NYSE:PCOR) Stock

Procore Technologies (NYSE:PCOR) had its price target raised by KeyCorp from $85.00 to $96.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on PCOR. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Stifel Nicolaus boosted their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday. Barclays boosted their price target on Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Scotiabank boosted their price target on Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.65.

Procore Technologies Stock Performance

Shares of PCOR opened at $87.48 on Friday. Procore Technologies has a twelve month low of $49.46 and a twelve month high of $87.90. The stock’s 50 day moving average is $77.63 and its two-hundred day moving average is $68.62. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

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 analysts’ consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. On average, equities analysts expect that Procore Technologies will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now directly owns 770,458 shares in the company, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the business’s 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 transaction, the senior vice president now owns 72,605 shares of the company’s stock, valued at $5,181,092.80. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 114,656 shares of company stock worth $8,776,297. Insiders own 29.00% of the company’s stock.

Institutional Trading of Procore Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies during the 3rd quarter worth $26,000. Versant Capital Management Inc increased its holdings in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.