Procore Technologies (NYSE:PCOR) Price Target Lowered to $77.00 at KeyCorp

Procore Technologies (NYSE:PCOR - Get Free Report) had its price target dropped by equities research analysts at KeyCorp from $96.00 to $77.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 20.69% from the stock's current price.

PCOR has been the topic of several other research reports. Macquarie cut their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. JMP Securities upped their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Mizuho decreased their price target on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler boosted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $81.18.

Procore Technologies Stock Up 1.3 %

NYSE PCOR traded up $0.81 during trading on Monday, reaching $63.80. 1,082,207 shares of the company's stock were exchanged, compared to its average volume of 1,738,507. The company's fifty day simple moving average is $67.74 and its 200-day simple moving average is $72.15. 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 firm has a market capitalization of $9.57 billion, a PE ratio of -88.61 and a beta of 0.90. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share 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 analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Sell-side analysts predict that Procore Technologies will post -0.15 EPS for the current year.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares of the company's stock, valued at $17,480. This represents a 84.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,962 shares of company stock worth $5,041,588. Insiders own 29.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCOR. Chicago Partners Investment Group LLC boosted its stake in Procore Technologies by 0.8% in the 4th 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 during the period. Parkside Financial Bank & Trust boosted its position in shares of Procore Technologies by 61.3% during the fourth 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 period. V Square Quantitative Management LLC grew its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares in the last quarter. Versant Capital Management Inc raised its position in Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after buying an additional 175 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Procore Technologies by 15.1% in the 4th quarter. Covestor Ltd now owns 1,571 shares of the company's stock valued at $118,000 after acquiring an additional 206 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

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.