Analysts Set Procore Technologies, Inc. (NYSE:PCOR) Target Price at $80.24

Procore Technologies, Inc. (NYSE:PCOR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $80.24.

Several brokerages have issued reports on PCOR. Macquarie dropped 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 note on Thursday, March 13th. BMO Capital Markets lowered their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. KeyCorp dropped their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JMP Securities lifted their price target on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group upped their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th.

Procore Technologies Stock Performance

PCOR stock traded down $0.78 on Friday, hitting $65.62. The company's stock had a trading volume of 1,051,932 shares, compared to its average volume of 1,715,558. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -91.14 and a beta of 0.90. The firm has a 50 day moving average of $64.84 and a two-hundred day moving average of $72.37. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies has a 1 year low of $49.46 and a 1 year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same quarter last year, the company posted $0.30 earnings per share. The business's revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Procore Technologies will post -0.15 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 6,937 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the completion of the transaction, the insider now directly owns 72,110 shares of the company's stock, valued at $6,028,396. This represents a 8.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,142 shares of company stock valued at $4,053,807 over the last 90 days. Corporate insiders own 29.00% of the company's stock.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after acquiring an additional 22,734 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Procore Technologies by 237.8% during the third quarter. Tidal Investments LLC now owns 17,538 shares of the company's stock worth $1,082,000 after purchasing an additional 12,346 shares during the last quarter. GAMMA Investing LLC grew its stake in Procore Technologies by 84.7% in the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company's stock worth $56,000 after purchasing an additional 342 shares in the last quarter. Hilltop National Bank acquired a new stake in Procore Technologies during the fourth quarter valued at approximately $53,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Procore Technologies by 5.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 88,154 shares of the company's stock worth $6,605,000 after buying an additional 4,407 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.