KeyCorp Raises Procore Technologies (NYSE:PCOR) Price Target to $85.00

Procore Technologies (NYSE:PCOR) had its price objective raised by research analysts at KeyCorp from $68.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 10.85% from the company’s current price.

Several other brokerages also recently weighed in on PCOR. Scotiabank cut their target price on shares of Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. DA Davidson reissued a “neutral” rating and issued a $60.00 price objective on shares of Procore Technologies in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays increased their price target on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Procore Technologies Stock Up 1.9 %

Shares of NYSE PCOR opened at $76.68 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm’s 50-day moving average is $64.19 and its two-hundred day moving average is $63.94. Procore Technologies has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. Equities analysts anticipate that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, 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 value of $190,388.48. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Fu sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now directly owns 171,997 shares in the company, valued at approximately $12,340,784.75. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,053 shares of company stock worth $7,426,909. 29.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. acquired a new stake in shares of Procore Technologies during the third quarter valued at about $235,000. Geode Capital Management LLC boosted its holdings in Procore Technologies by 10.9% in the third quarter. Geode Capital Management LLC now owns 1,716,432 shares of the company’s stock valued at $105,967,000 after purchasing an additional 168,769 shares during the last quarter. Bullseye Asset Management LLC grew its stake in Procore Technologies by 50.0% during the 3rd quarter. Bullseye Asset Management LLC now owns 14,993 shares of the company’s stock valued at $925,000 after purchasing an additional 5,000 shares in the last quarter. M&T Bank Corp acquired a new stake in Procore Technologies during the 3rd quarter valued at approximately $250,000. Finally, Barclays PLC increased its holdings in Procore Technologies by 49.1% during the 3rd quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after purchasing an additional 22,734 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.