Procore Technologies (NYSE:PCOR) Given New $85.00 Price Target at KeyCorp

Procore Technologies (NYSE:PCOR) had its target price boosted by KeyCorp from $68.00 to $85.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on the stock. The Goldman Sachs Group lowered their target price on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird assumed coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They set an “outperform” rating and a $73.00 target price for the company. BMO Capital Markets lifted their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Macquarie reaffirmed a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a report on Tuesday, July 30th. Finally, Barclays lifted their target price on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Trading Up 1.9 %

PCOR stock opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50 day moving average price of $64.19 and a 200 day moving average price of $63.98. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Equities research analysts anticipate that Procore Technologies will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the sale, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total transaction of $521,030.44. Following the sale, the director now directly owns 1,371,104 shares in the company, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,053 shares of company stock valued at $7,426,909. 29.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Procore Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCOR. Advisors Asset Management Inc. lifted its position in Procore Technologies by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after buying an additional 260 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Procore Technologies during the 1st quarter worth about $5,177,000. Bamco Inc. NY raised its holdings in shares of Procore Technologies by 756.8% in the 1st quarter. Bamco Inc. NY now owns 499,559 shares of the company’s stock valued at $41,049,000 after purchasing an additional 441,256 shares during the period. Untitled Investments LP bought a new stake in shares of Procore Technologies in the 1st quarter valued at about $1,336,000. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Procore Technologies by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,152 shares of the company’s stock valued at $2,395,000 after purchasing an additional 495 shares during the period. 81.10% of the stock is owned by institutional investors.

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.