Procore Technologies (NYSE:PCOR) PT Lowered to $80.00 at Canaccord Genuity Group

Procore Technologies (NYSE:PCOR - Free Report) had its price target trimmed by Canaccord Genuity Group from $95.00 to $80.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. KeyCorp lifted their target price on shares of Procore Technologies from $85.00 to $95.00 and gave the company an overweight rating in a research note on Friday, February 16th. JMP Securities lifted their price objective on Procore Technologies from $81.00 to $93.00 and gave the company a market outperform rating in a research report on Friday, February 16th. Barclays reduced their price target on shares of Procore Technologies from $83.00 to $78.00 and set an overweight rating on the stock in a research report on Thursday. DA Davidson restated a buy rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Finally, Mizuho reduced their target price on shares of Procore Technologies from $80.00 to $75.00 and set a buy rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $81.79.

Procore Technologies Price Performance

NYSE:PCOR traded up $0.98 during trading hours on Thursday, reaching $69.22. The company had a trading volume of 3,253,142 shares, compared to its average volume of 1,259,854. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $76.44 and a two-hundred day moving average of $68.91. Procore Technologies has a one year low of $48.11 and a one year high of $83.35. The firm has a market capitalization of $10.13 billion, a PE ratio of -52.05 and a beta of 0.78.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. Procore Technologies had a negative net margin of 19.97% and a negative return on equity of 12.26%. Analysts forecast that Procore Technologies will post -0.64 earnings per share for the current year.

Insider Activity

In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the sale, the senior vice president now directly owns 77,768 shares of the company's stock, valued at approximately $5,747,055.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP William Fred Fleming, Jr. sold 6,041 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the sale, the senior vice president now directly owns 77,768 shares of the company's stock, valued at approximately $5,747,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 1,441 shares of the company's stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the completion of the transaction, the chief financial officer now directly owns 192,178 shares of the company's stock, valued at $13,648,481.56. The disclosure for this sale can be found here. Insiders have sold 467,672 shares of company stock worth $36,612,454 in the last 90 days. Corporate insiders own 39.20% of the company's stock.

Hedge Funds Weigh In On Procore Technologies

A number of large investors have recently bought and sold shares of PCOR. Cerity Partners LLC grew its holdings in shares of Procore Technologies by 4,290.2% in the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company's stock valued at $92,353,000 after acquiring an additional 1,303,804 shares in the last quarter. Vanguard Group Inc. boosted its position in Procore Technologies by 13.2% during the third quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company's stock valued at $557,746,000 after purchasing an additional 995,757 shares during the last quarter. Norges Bank bought a new position in Procore Technologies in the fourth quarter valued at approximately $68,005,000. Robeco Schweiz AG acquired a new position in shares of Procore Technologies during the 4th quarter worth approximately $60,914,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Procore Technologies during the 4th quarter worth approximately $60,295,000. Institutional investors and hedge funds 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.