Procore Technologies, Inc. (NYSE:PCOR) Receives $89.94 Consensus Price Target from Brokerages

Shares of Procore Technologies, Inc. (NYSE:PCOR) have been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $89.94.

Several research analysts have commented on the stock. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. TD Cowen lifted their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. UBS Group upped their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 14th. DA Davidson raised their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th.

Insider Activity

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the transaction, the director now owns 1,282,648 shares in the company, valued at $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,311 shares of company stock worth $7,720,903. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC raised its holdings in Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock worth $1,199,000 after purchasing an additional 129 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock worth $259,000 after buying an additional 143 shares during the last quarter. Parkside Financial Bank & Trust raised its stake 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 acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Down 3.5 %

Shares of NYSE:PCOR opened at $75.84 on Friday. The company has a market cap of $11.27 billion, a price-to-earnings ratio of -105.33 and a beta of 0.84. Procore Technologies has a 12 month low of $49.46 and a 12 month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $78.20 and a 200 day moving average price of $70.08.

Procore Technologies (NYSE:PCOR) last posted 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 during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, equities research analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

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.