Procore Technologies (NYSE:PCOR) PT Lowered to $85.00 at BMO Capital Markets

Procore Technologies (NYSE:PCOR) had its price target reduced by BMO Capital Markets from $90.00 to $85.00 in a research note released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on PCOR. The Goldman Sachs Group lifted their price target on Procore Technologies from $74.00 to $85.00 and gave the company a buy rating in a research note on Friday, February 16th. Piper Sandler dropped their target price on shares of Procore Technologies from $80.00 to $77.00 and set an overweight rating for the company in a research report on Thursday. DA Davidson restated a buy rating and set a $95.00 price target on shares of Procore Technologies in a research report on Thursday, March 14th. JPMorgan Chase & Co. lifted their price objective on Procore Technologies from $76.00 to $81.00 and gave the stock an overweight rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus increased their target price on Procore Technologies from $64.00 to $90.00 and gave the stock a buy rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $81.79.

Procore Technologies Trading Up 0.3 %

PCOR traded up $0.21 during trading on Thursday, reaching $68.35. 850,403 shares of the company’s stock were exchanged, compared to its average volume of 1,271,546. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Procore Technologies has a one year low of $48.11 and a one year high of $83.35. The stock has a market capitalization of $9.91 billion, a PE ratio of -70.98 and a beta of 0.78. The firm has a fifty day moving average price of $76.24 and a two-hundred day moving average price of $68.93.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The firm had revenue of $260.04 million for the quarter, compared to the consensus estimate of $248.20 million. As a group, equities research analysts forecast that Procore Technologies will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $71.79, for a total transaction of $368,139.12. Following the sale, the director now directly owns 1,532,781 shares in the company, valued at $110,038,347.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $71.79, for a total transaction of $368,139.12. Following the transaction, the director now directly owns 1,532,781 shares in the company, valued at approximately $110,038,347.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin C. Singer sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now directly owns 116,318 shares of the company’s stock, valued at approximately $8,723,850. The disclosure for this sale can be found here. Over the last three months, insiders have sold 533,544 shares of company stock valued at $41,139,271. 39.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Procore Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after acquiring an additional 297 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Procore Technologies by 72.2% in the 1st quarter. Jennison Associates LLC now owns 1,010,101 shares of the company’s stock valued at $83,000,000 after purchasing an additional 423,578 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Procore Technologies during the first quarter valued at about $2,833,000. BNP Paribas acquired a new stake in Procore Technologies in the 1st quarter valued at approximately $1,349,000. Finally, Capstone Investment Advisors LLC grew its position in Procore Technologies by 140.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 14,307 shares of the company’s stock valued at $1,176,000 after acquiring an additional 8,346 shares in the last quarter. 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.