Procore Technologies (NYSE:PCOR) Price Target Cut to $75.00 by Analysts at Mizuho

Procore Technologies (NYSE:PCOR) had its price target decreased by analysts at Mizuho from $80.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price objective points to a potential upside of 9.89% from the stock’s current price.

Several other analysts also recently issued reports on PCOR. BMO Capital Markets lifted their price target on shares of Procore Technologies from $76.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Piper Sandler raised their price target on shares of Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their target price on Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. JMP Securities raised their price objective on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group upped their target price on shares of Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.64.

Procore Technologies Trading Down 0.2 %

NYSE:PCOR opened at $68.25 on Thursday. Procore Technologies has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of -51.32 and a beta of 0.78. The firm has a fifty day simple moving average of $76.54 and a two-hundred day simple moving average of $68.92.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The business had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. Analysts expect that Procore Technologies will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Fu sold 1,441 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the transaction, the chief financial officer now owns 192,178 shares of the company’s stock, valued at approximately $13,648,481.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Connor Kevin J. O sold 6,410 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $79.20, for a total value of $507,672.00. Following the completion of the transaction, the director now directly owns 1,494,311 shares of the company’s stock, valued at approximately $118,349,431.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Howard Fu sold 1,441 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $71.02, for a total transaction of $102,339.82. Following the sale, the chief financial officer now directly owns 192,178 shares in the company, valued at approximately $13,648,481.56. The disclosure for this sale can be found here. Insiders sold 467,672 shares of company stock valued at $36,612,454 over the last ninety days. 39.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procore Technologies

Large investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC increased its position in shares of Procore Technologies by 140.0% during the first quarter. Capstone Investment Advisors LLC now owns 14,307 shares of the company’s stock valued at $1,176,000 after buying an additional 8,346 shares during the period. Diversify Advisory Services LLC purchased a new position in Procore Technologies during the first quarter valued at approximately $567,000. Norden Group LLC bought a new stake in Procore Technologies during the 1st quarter worth approximately $1,269,000. Allspring Global Investments Holdings LLC lifted its stake in Procore Technologies by 85.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 766,291 shares of the company’s stock worth $62,966,000 after purchasing an additional 353,794 shares in the last quarter. Finally, Sycomore Asset Management boosted its holdings in Procore Technologies by 22.0% in the 1st quarter. Sycomore Asset Management now owns 108,475 shares of the company’s stock valued at $8,550,000 after purchasing an additional 19,564 shares during the period. 81.10% of the stock is 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.