Procore Technologies (NASDAQ:PCOR) PT Raised to $88.00

Procore Technologies (NASDAQ:PCORGet Rating) had its price target boosted by investment analysts at KeyCorp from $87.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 39.53% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Mizuho boosted their target price on Procore Technologies from $57.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on Procore Technologies from $113.00 to $95.00 in a research note on Thursday, June 16th. Piper Sandler boosted their target price on Procore Technologies from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group lowered their target price on Procore Technologies from $90.00 to $75.00 in a research note on Monday, May 23rd. Finally, Barclays lowered their target price on Procore Technologies from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Procore Technologies Stock Up 1.7 %

PCOR stock opened at $63.07 on Thursday. The company has a market cap of $8.55 billion, a PE ratio of -31.07 and a beta of 0.61. The business has a 50-day simple moving average of $48.35 and a 200 day simple moving average of $53.88. Procore Technologies has a 52 week low of $40.00 and a 52 week high of $105.29. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.04.

Procore Technologies (NASDAQ:PCORGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.05. The business had revenue of $159.52 million during the quarter, compared to the consensus estimate of $150.25 million. Procore Technologies had a negative return on equity of 15.47% and a negative net margin of 36.48%. Procore Technologies’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Sell-side analysts anticipate that Procore Technologies will post -1.82 EPS for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, Director William J.G. Griffith bought 171,489 shares of Procore Technologies stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average cost of $42.81 per share, for a total transaction of $7,341,444.09. Following the completion of the acquisition, the director now directly owns 1,069,534 shares of the company’s stock, valued at approximately $45,786,750.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William J.G. Griffith bought 171,489 shares of Procore Technologies stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average cost of $42.81 per share, for a total transaction of $7,341,444.09. Following the completion of the acquisition, the director now directly owns 1,069,534 shares of the company’s stock, valued at approximately $45,786,750.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 1,698 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $42.79, for a total value of $72,657.42. Following the completion of the sale, the senior vice president now owns 67,159 shares in the company, valued at $2,873,733.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,476 shares of company stock worth $4,972,888. Insiders own 40.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PCOR. Deer Management Co. LLC bought a new position in shares of Procore Technologies during the 4th quarter worth approximately $1,113,059,000. Goldman Sachs Group Inc. boosted its holdings in shares of Procore Technologies by 1,231.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,016,191 shares of the company’s stock worth $960,935,000 after buying an additional 11,113,486 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Procore Technologies during the 1st quarter worth approximately $93,191,000. ICONIQ Capital LLC boosted its holdings in shares of Procore Technologies by 2.7% during the 1st quarter. ICONIQ Capital LLC now owns 44,808,883 shares of the company’s stock worth $2,597,174,000 after buying an additional 1,186,014 shares in the last quarter. Finally, 12 West Capital Management LP raised its position in shares of Procore Technologies by 51.8% during the first quarter. 12 West Capital Management LP now owns 3,208,211 shares of the company’s stock worth $185,948,000 after purchasing an additional 1,095,000 shares during the period. 91.35% of the stock is currently owned by institutional investors.

About Procore Technologies

(Get Rating)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

See Also

Analyst Recommendations for Procore Technologies (NASDAQ:PCOR)

Receive News & Ratings for Procore Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procore Technologies and related companies with MarketBeat.com's FREE daily email newsletter.