Procore Technologies (NYSE:PCOR) Price Target Raised to $85.00 at KeyCorp

Procore Technologies (NYSE:PCORFree Report) had its price objective raised by KeyCorp from $77.00 to $85.00 in a report published on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research firms have also commented on PCOR. Jefferies Financial Group lowered shares of Procore Technologies from a buy rating to a hold rating and dropped their price objective for the company from $90.00 to $55.00 in a research note on Thursday, November 2nd. DA Davidson lifted their price objective on shares of Procore Technologies from $75.00 to $85.00 and gave the company a buy rating in a research note on Monday, February 5th. JMP Securities lifted their price objective on shares of Procore Technologies from $69.00 to $81.00 and gave the company a market outperform rating in a research note on Monday, February 5th. Barclays dropped their price objective on shares of Procore Technologies from $87.00 to $71.00 and set an overweight rating on the stock in a research note on Thursday, November 2nd. Finally, Mizuho dropped their price objective on shares of Procore Technologies from $85.00 to $75.00 and set a buy rating on the stock in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $75.87.

View Our Latest Report on PCOR

Procore Technologies Stock Performance

Shares of PCOR stock opened at $73.27 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04. Procore Technologies has a 52 week low of $48.11 and a 52 week high of $76.86. The stock has a market capitalization of $10.51 billion, a PE ratio of -44.68 and a beta of 0.67. The firm has a 50 day moving average of $68.26 and a two-hundred day moving average of $64.84.

Insider Activity

In related news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $55.17, for a total value of $282,911.76. Following the completion of the transaction, the director now directly owns 1,578,933 shares of the company’s stock, valued at $87,109,733.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Procore Technologies news, CFO Howard Fu sold 5,959 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total transaction of $333,406.05. Following the completion of the sale, the chief financial officer now directly owns 151,512 shares of the company’s stock, valued at approximately $8,477,096.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $55.17, for a total value of $282,911.76. Following the sale, the director now directly owns 1,578,933 shares of the company’s stock, valued at $87,109,733.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,048 shares of company stock worth $20,947,275. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds have recently modified their holdings of the business. Makena Capital Management LLC lifted its holdings in shares of Procore Technologies by 21.5% during the 4th quarter. Makena Capital Management LLC now owns 252,517 shares of the company’s stock valued at $17,479,000 after purchasing an additional 44,685 shares in the last quarter. Parnassus Investments LLC lifted its holdings in shares of Procore Technologies by 1,666.8% during the 4th quarter. Parnassus Investments LLC now owns 135,799 shares of the company’s stock valued at $9,400,000 after purchasing an additional 128,113 shares in the last quarter. TFO Wealth Partners LLC raised its position in Procore Technologies by 43,600.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $151,000 after buying an additional 2,180 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Procore Technologies by 2.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 35,293 shares of the company’s stock valued at $2,443,000 after buying an additional 830 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Procore Technologies by 81.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock valued at $45,200,000 after buying an additional 293,613 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

About Procore Technologies

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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.

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