Procore Technologies (NYSE:PCOR) Price Target Lowered to $75.00 at Stifel Nicolaus

Procore Technologies (NYSE:PCOR - Free Report) had its target price decreased by Stifel Nicolaus from $93.00 to $75.00 in a report released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. JMP Securities increased their price target on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. Barclays dropped their price target on shares of Procore Technologies from $90.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Scotiabank reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Macquarie dropped their target price 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. Finally, KeyCorp reduced their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and an average target price of $80.24.

Procore Technologies Stock Up 2.8 %

NYSE PCOR traded up $1.74 during mid-day trading on Friday, hitting $64.95. The company's stock had a trading volume of 1,948,555 shares, compared to its average volume of 1,717,698. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of -90.21 and a beta of 0.90. The company's 50 day simple moving average is $65.91 and its 200 day simple moving average is $72.35. 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 twelve month low of $49.46 and a twelve month high of $88.92.

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

Insider Buying and Selling 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 stock was sold at an average price of $83.60, for a total value of $579,933.20. Following the transaction, the insider now directly owns 72,110 shares in the company, valued at $6,028,396. This represents a 8.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction dated 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 directly owns 200 shares of the company's stock, valued at $17,480. The trade was a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,962 shares of company stock valued at $5,041,588 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several hedge funds have recently bought and sold shares of PCOR. Diversified Trust Co raised its holdings in shares of Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after buying an additional 30,948 shares in the last quarter. US Bancorp DE raised its stake in shares of Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after acquiring an additional 3,390 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Procore Technologies in the 4th quarter worth approximately $20,729,000. Barclays PLC boosted its stake in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Procore Technologies during the 4th quarter valued at $56,000. 81.10% of the stock is currently owned by 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.