Procore Technologies (NYSE:PCOR) Given New $75.00 Price Target at Stifel Nicolaus

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

Other equities analysts have also recently issued reports about the stock. Mizuho dropped their price target on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. JMP Securities upped their price objective 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. Piper Sandler reduced their price target on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, UBS Group cut their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.24.

Procore Technologies Price Performance

Shares of NYSE:PCOR traded down $0.07 during midday trading on Friday, reaching $64.09. 319,081 shares of the company were exchanged, compared to its average volume of 1,709,800. The business's fifty day moving average is $65.41 and its two-hundred day moving average is $72.30. Procore Technologies has a one year low of $49.46 and a one year high of $88.92. The stock has a market cap of $9.56 billion, a PE ratio of -89.10 and a beta of 0.90. 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 (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business's revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. As a group, analysts predict that Procore Technologies will post -0.15 earnings per share for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $76.77, for a total transaction of $492,095.70. Following the completion of the transaction, the director now directly owns 1,231,368 shares in the company, valued at approximately $94,532,121.36. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares in the company, valued at $13,588,356. This represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,552 shares of company stock worth $4,545,903. 29.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after acquiring an additional 162 shares in the last quarter. Huntington National Bank grew its position in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Procore Technologies in the fourth quarter valued at approximately $53,000. 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.