Procore Technologies (NYSE:PCOR) Stock Price Expected to Rise, Scotiabank Analyst Says

Procore Technologies (NYSE:PCORGet Free Report) had its price target lifted by Scotiabank from $70.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 9.14% from the company’s previous close.

Several other research firms have also issued reports on PCOR. Macquarie restated a “neutral” rating and set a $70.00 price target on shares of Procore Technologies in a research report on Tuesday, July 30th. JMP Securities cut their price objective on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday. Barclays lifted their price objective on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.63.

Read Our Latest Analysis on Procore Technologies

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded up $2.65 on Friday, reaching $77.88. 1,935,280 shares of the company traded hands, compared to its average volume of 1,585,903. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50 day moving average of $63.82 and a 200 day moving average of $63.92. Procore Technologies has a 52 week low of $49.46 and a 52 week high of $83.35. The firm has a market capitalization of $11.58 billion, a PE ratio of -156.14 and a beta of 0.71.

Procore Technologies (NYSE:PCORGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $287.42 million. Equities analysts forecast that Procore Technologies will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Howard Fu sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total value of $107,625.00. Following the sale, the chief financial officer now owns 171,997 shares of the company’s stock, valued at $12,340,784.75. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $58.48, for a total value of $299,885.44. Following the completion of the transaction, the director now owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,997 shares of company stock worth $4,497,153. Company insiders own 29.00% of the company’s stock.

Institutional Investors Weigh In On Procore Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Procore Technologies during the third quarter worth about $26,000. Signaturefd LLC increased its position in shares of Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares in the last quarter. International Assets Investment Management LLC raised its position in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Procore Technologies in the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Procore Technologies (NYSE:PCOR)

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